Petroleum Sector Current Affairs - 2020

Union Government launches #Gas4India campaign to promote use natural gas in the country

The Union Ministry of Petroleum & Natural Gas has launched #Gas4India  campaign, aimed at promoting the use of natural gas in the country.

It was launched by Union Minister of State (I/C) for Petroleum and Natural Gas Dharmendra Pradhan in New Delhi. He also launched the website, Twitter handle, facebook page and Theme song of the campaign.

Key Facts

  • Gas4India is a unified cross-country, multimedia, multi-event campaign aimed at promoting the use of natural gas in the country in order to move towards a gas-based economy.
  • It will communicate the national, social, economic and ecological benefits of using natural gas as the fuel of choice to every citizen.
  • Public and private sector companies working in the sector will promote the natural gas sector under this campaign.
  • The campaign includes social engagement via Twitter, Facebook, Youtube and its official blogsite, as well as hyper local, offline events to directly connect with consumers.

Union Cabinet gives nod to BPCL’s investment enhancement in Oman Refineries

The Union Cabinet has given its approval to enhance investment by Bharat Petroleum Corporation Limited (BPCL) in Bharat Oman Refineries Limited (BORL).

With this, the investment amount of BPCL could be enhanced upto a maximum of 3000 crore rupees by way of subscription of convertible warrants or other instruments.

The infusion of funds by the BPCLs will

  • Enable expansion of Bina Refinery in Madhya Pradesh and overcome the implications on account of the erosion of the net worth.
  • Enhance the availability of petroleum products in the Northern and Central parts of the country.
  • It will also enhance industrial development of Madhya Pradesh and substantial increase in employment and tax earnings in the State.

Background

  • BPCL is India’s second-biggest state refiner that functions under the aegis of Union Ministry of Petroleum and Natural Gas.
  • It has promoted a joint venture company with Oman Oil Company Limited (OOCL) named BORL. OCC holds 26% stake and BPCL holds 49% stake.