Current Affairs – October, 2019

Latest Current Affairs October, 2019 with Current Affairs, news summary on current events of National and International importance of October, 2019 for Banking, SSC, CLAT, UPSC, State PCS, IBPS, Railways and other Competitive Examinations.

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3rd India Energy Forum by CERAWeek held in New Delhi

The third India Energy Forum by CERAWeek was held in New Delhi from 13-15 October 2019. At the forum the Union Minister of Petroleum and Natural Gas & Steel Dharmendra Pradhan called for the inclusion of petroleum products under GST regime and urged Union finance minister to at least begin by including natural gas and ATF (aviation turbine fuel) in GST.

Key Highlights

Participants: Hundreds of delegates from Indian as well as regional energy companies, institutions, and governments, and also a number of international speakers gathered at 3rd India Energy Forum by CERAWeek under the patronage Union Ministry of Petroleum and Natural Gas & Steel and Union Minister Dharmendra Pradhan.

Key topics explored at Forum include:

  • India’s energy transition
  • Low-carbon & sustainable energy solutions for India
  • The provision of heat, light, and mobility
  • Game-changing industry technologies
  • Outlook for global oil and gas markets & investment
  • Growing domestic oil and gas production and expanding use of natural gas across the economy
  • An opportunity to understand new government’s priorities and response from public and private sectors

Way Ahead

India is expected to get $58 billion investment in the exploration and production sector by 2023 and an estimated investment of $60 billion is underway for augmenting gas infrastructure.

As the energy sector is on the top of government’s priority list, it is committed to do everything it takes to meet renewable targets. The government is pushing to achieve 10% blending percentage of ethanol in petrol by 2022, which in turn will boost farm economy.

US sanctions on Turkey

The US Government has imposed sanctions against the Turkish ministries for their military actions in Northern Syria. Actions has been taken against Turkish defence and energy ministries. The sanctions also freeze Turkish assets held by the ministry in US and has banned all the financial transactions with them related to US.

The Syria issues

Recently the Kurdish forces in the Syrian border stuck a deal with the Syrian Government marking a major shift in the 8-year war. This started series of disturbances in the region. Recently, the Turkish forces launched attacks against the Kurds on the Syrian border. According to the UN, around 160,000 have fled the area and dozens of civilians are killed and injured.

The Kurdish-led forces are a key ally to the US against the IS (Islamic State) in Syria. Russia stays silent over the issue.