Oil Sector Current Affairs - 2019

Category Wise PDF Compilations available at This Link

Petroleum Ministry sets up National Data Repository

Union Ministry of Petroleum and Natural Gas (MoPNG) has set up state of-the-art National Data Repository which is database of all geo-scientific data of hydrocarbon resources in the country. It is equipped with cutting-edge technology and will provide ready access to interested companies. With this, India has joined league of countries like UK and Norway Read More…

Month:  Categories: Government Schemes & Projects

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Mongolia launches construction of its first oil refinery with $1 billion Indian aid

Mongolia has launched construction of its first strategically important oil refinery funded by India in southern Dornogovi province. The ground-breaking ceremony of long-awaited project was attended by Mongolian Prime Minister Khurelsukh Ukhnaa and Indian Minister of Home Affairs Rajnath Singh.  Key Facts The refinery will be capable of processing 1.5 million tonnes of crude oil Read More…

Month:  Categories: International

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CCEA approves selling 51% stake in HPCL to ONGC

 The Cabinet Committee on Economic Affairs (CCEA) has approved sale of government’s 51.11% stake along with management control in HPCL (Hindustan Petroleum) to ONGC. HPCL will continue as PSU after the acquisition. HPCL will add 23.8 million tonnes of annual oil refining capacity to ONGC’s portfolio, making it the third-largest refiner in the country after Read More…

Month:  Categories: Governance & Politics

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First meeting of Integrated Monitoring and Advisory Council held in New Delhi

The first meeting of the newly formed Integrated Monitoring and Advisory Council (IMAC) was held in New Delhi.  It was chaired by Union Minister of State (I/C) for Petroleum and Natural Gas Dharmendra Pradhan. IMAC is an inter-ministry monitoring and advisory body for policy formulation and implementation of ‘Roadmap to achieve target of 10% reduction Read More…

Month:  Categories: Events & Observances

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India to import crude oil from US for first time

India, the world’s third-largest oil importer, for the first time will import crude oil from the United States. The purchase comes after Prime Minister Narendra Modi’s visit to the US in June 2017 when President Donald Trump had assured that US looks forward to export more energy products to India. Key Facts Indian Oil Corp Read More…

Month:  Categories: Business, Economy & Banking

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Government announces new licensing policy to boost oil output

The Union Ministry of Petroleum & Natural Gas has announced new Open Acreage Licensing Policy (OALP) for oil and gas exploration. The new policy will allow bidders to carve out areas where they want to drill. It will help energy hungry India and world’s third-largest oil consumer to attract greater foreign investment to boost output. Key Read More…

Month:  Categories: Governance & Politics

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CCEA approves contract awards for 44 small oil and gas fields

The Cabinet Committee on Economic Affairs (CCEA) has approved to award contract in 31 contract areas of small oil and gas fields belonging to ONGC and Oil India Limited (OIL) The contract areas include 44 fields, 28 inland and 16 offshore. The will be awarded under Discovered Small Field Policy bid round – 2016. Key Read More…

Month:  Categories: Awards & Honours

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