IOCL Current Affairs - 2020

M B Lal Committee

The recent massive fire at the Baghjan Oil field, Assam had caused serious environmental damages and led to migration of 1000s of people in the region. More than 1,610 families are now lodged in 4 relief camps. The Government of India has taken several measures to address the issues of such oil field fires. In Read More…

India Russia sign first ever Term Contract to import crude oil to India

On February 5, 2020, the Minister of Petroleum and Natural Gas Shri Dharmendra Pradhan and the Chairman of Rosneft (Russia’s largest oil producing company) signed the first ever term contract. According to the contract India will import 2 million metric tonnes of Urals grade crude oil. Highlights The agreement was signed between IOCL and Rosneft. Read More…

“APNA UREA-SonaUgle” brand of HURL launched-To increase Urea Production

The APNA UREA-SonaUgle brand of HURL (Hindustan Urvarak & Rasayan Limited) was launched by the Union Minister of Chemicals and Fertilizers Shri D V Sadananda Gowda. Recent developments in Urea Production In order to make India self-sufficient in Urea, the Union Government approved revival of three Urea plants located in Sindri, Gorakhpur and Barauni. The Read More…

Cabinet approves North East Natural Gas Pipeline Grid

On January 8, 2020, the Cabinet Committee on Economic Affairs approved the North East Gas Pipeline Grid. The pipeline is to be constructed for around 1,656 km. Highlights The gas pipeline grid is to be developed in eight states of the North East Region namely Manipur, Meghalaya, Assam, Arunachal Pradesh, Mizoram, Sikkim, Nagaland and Tripura. Read More…

MoU for sale of FASTag

A memorandum of understanding (MoU) has been signed between Indian Highways Management Company Limited (IMHCL) and leading Oil Marketing Companies (OMCs) like BPCL, HPCL and IOCL for sale of FASTags through their petrol pumps. FASTag FASTag is an electronic toll collection system operated by the National Highway Authority of India (NHAI). FASTag enables automatic deduction of toll charges and Read More…