Indian Oil Corp (IOC) and Russian Rosneft signed 1st term contract for importing 2 Million Metric Tonnes of Urals grade crude oil to India for the year 2020. India is the 3rd largest Energy Consumer in the world, India imports globally 83% of oil to meet its oil need. India has to enlarge its sources for oil imports away from the Middle East oil-producing countries.
India made a strategy to expand its oil source India’s strategy for Diversification (Importing crude oil from non-OPEC countries) and the term contract is also under the part of the strategy.
Important takeaways for all competitive exams:
The Indian Institute of Technology (IIT) Bombay has partnered with global technology company Honeywell to…
The Uttar Pradesh government has launched Project GANGA. This project launched to provide high-speed internet…
Did you know that even in some of the highest and coldest places on Earth,…
he Indian Premier League (IPL) 2026 is expected to be the biggest season in the…
Global banking remains the largest and most influential industry worldwide, with the combined brand value…
Cheetah population in India has reached 53 after Namibian cheetah Jwala gave birth to five…