CURRENT AFFAIRS

Detailed explanation-1: -State-owned Bharat Petroleum Corporation Ltd (BPCL) on Saturday said it has signed an agreement with Brazilian national oil company Petrobras for sourcing crude oil from the Latin American nation as part of plans to diversify its sourcing needs.

Detailed explanation-2: -India’s primary supplier of liquefied natural gas (LNG) in 2021 was Qatar, contributing to a share of 42 percent of the country’s imports. As of that year, India was the world’s fourth-largest LNG importer.

Detailed explanation-3: -Russia becomes India’s top oil supplier in Oct, surpasses Saudi Arabia and Iraq. Russia now supplies almost 22% of India’s total crude imports, ahead of Iraq’s 20.5 per cent and Saudi Arabia’s 16 per cent.

Detailed explanation-4: -According to Vortexa, an energy intelligence firm, India imported 803, 228 bpd of oil from Iraq in December and 718, 357 bpd from Saudi Arabia. The United Arab Emirates overtook the US to become India’s fourth largest supplier, selling 323, 811 bpd oil in December 2022.

Detailed explanation-5: -As per Vortexa, India imported just 36, 255 barrels per day of crude oil from Russia in December 2021, compared to 1.05 million bpd from Iraq and 9, 52, 625 bpd from Saudi Arabia.