ECONOMICS
TRADE EXCHANGE AND INTERDEPENDENCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Marine Drive
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Stock Exchange
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Bombay High
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None of the above
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Detailed explanation-1: -The Mumbai Basin contributes around 55% domestic crude oil and 70% of the gas production for India.
Detailed explanation-2: -Crude oil produced from Mumbai High is considered to be of very good quality as compared to crudes produced in middle east. Mumbai High crude has more than 60% paraffinic content while light Arabian crude has only 25% paraffin.
Detailed explanation-3: -Bombay High (now Mumbai High) field is an offshore oilfield located in the Arabian Sea, approximately 160km west of the Mumbai coast, India. Discovered in 1974, the field commenced production in 1976 and is operated by the Oil and Natural Gas Corporation (ONGC).
Detailed explanation-4: -Mumbai is high because it is located on the coast of the Arabian Sea. The city is surrounded by sedimentary rocks that are rich in oil and gas.
Detailed explanation-5: -Mumbai High, formerly Bombay High is the largest oil field in India. It is an offshore oilfield located in the Arabian Sea, approximately 160km west of the Mumbai coast. It was discovered in 1974, started production in 1976.