Russia Approved ONGC’s Rs 8600 Crore Vankor Oilfield Deal
- Russia, on March 27; 2016, has approved ONGG’s deal that will cost $1.3 billion (nearly Rs 8648.5 crore) to pick up 15% stake in Russia’s second biggest oil field, Vankor from Rosneft. It will give Russian company Rosneft access to the Indian market.
- The field, which has recoverable reserves of 2.5 billion barrels, will give ONGC Videsh Limited 3.3 million tonnes per annum of oil production. It’s also a source of oil for the Chinese market. The Vankor oil field, set-up in 2004 brought to production in Russia in the last 25 years.
- Vankor is Rosneft’s and Russia’s 2nd largest field by production and accounts for 4% of Russian production. The daily production from the field is around 442000 barrels per day of crude oil on an average with OVL’s share of daily oil production at about 6600Q.
India and China Led Investments in Renewable Energy in 2015
- As per the report ‘Global Trehds in Renewable Energy Investment 2016’ by the UN Environment Programme, the developing world including China, India and Brazil committed a total of $ 156 billion in new renewables capacity 2015, up 19% from 2014.
- The investments by developed countries were down 8% in 2015 ‘ to $ 130 billion. So, the year 2015 was the first time when investment in renewables in developing countries outweighed that in developed economies.
- A large part of the record-breaking investment in developing \ countries took place in China, which lifted its investment by 17% to $ 102.9 billion, more than a third of global commitments. India was also among the top 10 investing countries in renewable energy, with its commitments rising 22% to $ 10.2 billion.
India and France Signed Moll for 6 Daitapur Nuclear Reactors
- India and France have signed a MoU for construction of six nuclear reactors of 1650 MW each at Jaitapur in Maharashtra on March 22, 2016, two months after the two countries decided to conclude the techno-commercial negotiations for the project by the end of 2016.
- The pact was inked at the end of the two-day visit of a high-level delegation of Electricite de France (EDF) — French public utility — to Mumbai for holding discussions with the Nuclear Power Corporation of India Limited (NPCIL) on the construction of the plants.
- Jaitapur Nuclear Power Project is a 9900 MW power project proposed by Nuclear Power Corporation of India (NPCIL) at Madban village of Ratnagiri district in Maharashtra. France is going to supply technology for construction and also nuclear fuel for. 25 years for this plant.
Deployment of P-81 to Seychelles for EEZ Surveillance
- The Indian Navy has deployed a P 81 maritime reconnaissance aircraft to Seychelles since March 20, 2016, for. surveillance in the Exclusive Economic Zone of Seychelles, in accordance with the MoU between the governments of India and Seychelles.
- The aircraft will remain deployed till March 23, 2016. During this period, the aircraft will undertake surveillance of the Seychellois EEZ, In addition, .the deployment will facilitate profession^ interaction between the aircrew and the SPDF.
- The Indian Navy has, in the past, undertaken surveillance missions in the Seychellois EEZ Svice a year, by deploying IN ships. The last such deployment was undertaken by ships of the first Training Squadron of the Indian Navy, in October, 2015.
