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 Uttar Pradesh Green Hydrogen Policy, 2024 is a state level policy, which is intended…
India has become part of a multinational initiative that aims at guiding the development of…
Dr. NTR Vaidya Seva Scheme is a major health care program of the government of…
India performed its best ever by grabbing the fourth position at the Pickleball World Cup…
India’s contingent of 503 members headed for the Asian Games 2026 had been accorded a…
Chairman of NCSC, Kishor Makwana is set to receive the Dr APJ Abdul Kalam Jan…