Natural Gas Current Affairs - 2020

Turkey discovers Natural Gas reserves in Black Sea

On August 21, 2020, the Turkish President Recep Tayyip Erdogan announced the discovery of large natural gas reserves in the Black Sea coast. According to the announcement made by the President, 320 billion cubic metres of natural gas has been discovered. Highlights Turkey is to start using the discovered natural gas by 2023. Though the Read More…

23.4 % decline in Growth Rate of Eight Core Industries in May 2020

Index of the Eight Core Industries for the month of May 2020 was released on 30th June 2020. The index was released by the Office of Economic Affairs (under the Department for Promotion of Industry and Internal Trade). Out of the total items included in the Index of Industrial Production, the Eight Core Industries comprises Read More…

India’s first gas trading platform launched

On June 15, 2020, the Indian Energy Exchange launched the first gas trading platform. The platform was inaugurated by the Minister of Petroleum and Natural Gas Dharmendra Pradhan. Highlights The Indian Gas Exchange, the online gas trading platform will act as a subsidiary of Indian Energy Exchange and is to be launched in July 2020. Read More…

Assam Baghjan Oil Well Fire

On June 9, 2020, a massive fire engulfed the Baghjan oil well of Assam. The well of the Oil India Limited had blown out on May 27, 2020 and has been leaking gas for the past 14 days. Highlights The accident is causing huge damages and is leaking gas. The smoke from the site could 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…