CURRENT AFFAIRS

2018

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
What is the name of the joint venture between the government and the state-owned ONGC?
A
Oman India Fertilizer Company
B
Pawan Hans
C
IFFCO
D
SPIC
Explanation: 

Detailed explanation-1: -ONGC Mittal Energy Services Limited (OMESL) : This is the joint venture between ONGC Videsh Limited and Mittal Investments Sarl with the same ownership structure as that of OMEL.

Detailed explanation-2: -Mangalore Refinery and Petrochemicals Ltd. (MRPL) is a Joint Venture of HPCL and ONGC wherein ONGC holds 71.63% of equity, HPCL holds 16.96% equity and balance equity is held by public. MRPL is a schedule ‘A’ Miniratna, Central Public Sector Enterprise (CPSE) and operates 15 MMTPA refinery at Mangaluru in Karnataka.

Detailed explanation-3: -ONGC was founded on 14 August 1956 by the Government of India. It is the largest government-owned-oil and gas explorer and producer in the country, and produces around 70% of India’s crude oil (equivalent to around 57% of the country’s total demand) and around 84% of its natural gas.

Detailed explanation-4: -It is a public sector undertaking as it is set up and run by the Government of India.

There is 1 question to complete.