Start learning 50% faster. Sign in now
India's oil imports in May totalled 4.98 million barrels per day (bpd), the highest since December 2020. Iraq was India's second biggest supplier of oil in May. Russia rose to become India's second biggest supplier of oil in May while Saudi Arabia was in third place. Russian grades accounted for about 16.5% of India's overall oil imports in May, and helped raise the share of oil from the Commonwealth of Independent States countries to about 20.5%, while that from the Middle East declined to about 59.5%. Reason for increasing Russian Oil in India: Western sanctions against Russia for its invasion of Ukraine prompted many oil importers to shun trade with Moscow, pushing spot prices for Russia’s Ural crude oil to record discounts against other grades. That provided Indian refiners, which rarely used to buy Russian oil due to high freight costs, an opportunity to snap up low-priced crude.
Algeria joined which multilateral development bank in 2024?
Where was the 19th G20 Summit held in November 2024?
Recently, a rainwater harvesting project in which state uncovered megalithic urn burials?
With reference to Indian Port Ecosystem, consider the following statements:
I. The Draft Indian Ports Bill, 2022 seeks to replace the existing I...
What is the currency of Bhutan?
When is the International Day of Persons with Disabilities (IDPD) observed every year?
Who has been awarded the Sahitya Akademi Fellowship, 2024 for his contribution to literature over 50 years?
Who was appointed as the 102nd Prime Minister of Japan?
Which application is not associated with the three new criminal laws launched by Union Home Minister Amit Shah in Chandigarh?
Government has approved Phase-II of FAME Scheme with an outlay of Rs. 10,000 Crore for a period of 5 years commencing from 1st April ______.