Indian Oil Corporation Current Affairs - 2019
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The Indian Oil Corporation has stated that Supply of ultra-clean BS-VI grade petrol and diesel has begun in cities adjoining the national capital. The rest of the country will follow suit from April 2020. New Delhi is the first city in the country to leapfrog from BS-IV grade petrol and diesel to BS-VI fuels.
Bharat Stage Norms
Bharat Stage norms are standards set by the government to regulate emission of air pollutants from motor vehicles. The norms set the limit for the release of air pollutants such as nitrogen oxides, carbon monoxide, hydrocarbons, particulate matter (PM) and sulphur oxides from vehicles using internal combustion engines. The Bharat stage norms are based on Euro norms.
Difference between BS-IV and BS-VI Norms
- The extent of sulphur is the major difference between the Bharat stage IV and Bharat stage VI norms.
- Bharat stage IV fuels contain 50 parts per million (ppm) sulphur whereas Bharat Stage-VI grade fuel only has 10 ppm sulphur.
- Bharat Stage VI will bring PM in diesel cars down by 80 per cent when compared to Bharat stage IV.
- Bharat Stage VI will bring down nitrogen oxides from diesel cars by 70 per cent and in petrol cars by 25 per cent.
In 2015 India had decided to leapfrog to BS-VI emission norm compliant petrol and diesel from April 2020, from the BS-IV grade by skipping BS-V norms. While the deadline for the rest of the country stands, the same for Delhi, which is choking on thick toxic smog, was brought forward.
The consortium of State-owned Indian Oil Corporation (IOC) and Bharat PetroResources Ltd (BPRL), Urja Bharat Pte Ltd has acquired an oil block in Abu Dhabi, where the two will invest USD 170 million.
About the Acquisition
- Urja Bharat Pte Ltd has been awarded 100 per cent stake in the Abu Dhabi Onshore Block 1 Concession.
- Both IOC and BPRL hold 50 per cent each in Urja Bharat Pte Ltd.
- Urja Bharat Pte Ltd will make an investment of USD 170 million for the exploration activities and the concession is awarded for the period of four years effective from the date of March 24, 2019.
- Onshore Block 1 covers an area of 6,162 square kilometres around Ruwais field and includes already discovered but undeveloped fields.
- This Onshore Block 1 is located in the Al Dhafra region around Ruwais City and the refining complex, including the coastal region to the west. There are two existing undeveloped oil and gas fields in the area, named Ruwais and Mirfa, which will be appraised by the consortium.
The acquisition of the oil block by the consortium of State-owned Indian Oil Corporation (IOC) and Bharat PetroResources Ltd (BPRL), Urja Bharat Pte Ltd marks the entry of IOC as a joint operator in the highly prospective UAE region. The acquisition is consistent with its strategic objective of adding high-quality exploration and production (E&P) assets to its existing upstream portfolio.