ONGC , Oil, OPEC - GS questions based on daily current affairs

1)   India’s first shale gas exploratory well was drilled in

a. Maharashtra
b. Gujarat
c. Andhra Pradesh
d. Tamil Nadu
Answer  Explanation 

ANSWER: Gujarat

Explanation:

  • Following the successful drilling of the country’s first shale gas exploratory well near Jambusar about 60 km from Vadodara, Oil and Natural Gas Corporation (ONGC) has decided to drill more wells in Cambay region of Gujarat.
  • The data from the first well near Jambusar has given ONGC more leads for further exploration.
  • Shale gas in Cambay region is estimated to have a shale gas potential of 20 TCF (trillion cubic feet).
  • India has recoverable shale gas reserves of around 90 TCF, which can satiate India’s energy demand for 26 years.
2)   Which of the following basin/s has/have shale gas reserves?

1) Cambay Basin
2) KG Basin
3) Cauvery Basin

a. 1, 2
b. 1, 3
c. 2
d. All of the above
Answer  Explanation 

ANSWER: All of the above

Explanation:

  • ONGC estimates India’s shale gas reserve in the range of 500 to 2000 trillion cubic meters.
  • Cambay is one of the basins that have been identified as potentially-bearing shale resources.
  • But apart from the Cambay basin, the ONGC will also explore Krishna-Godavari, Cauvery and Vindhyan sedimentary basins for shale gas in the near future.
  • Major regions of availability are Gujarat, Rajasthan, central India, KG Basin and offshore areas in Bay of Bengal.
3)   Which of the following are not members of OPEC?

1. Venezuela
2. Mexico
3. Russia
4. Iran

a. Only 3
b. 1,2,3
c. 2 and 3
d. All
Answer  Explanation 

ANSWER: 2 and 3

Explanation:
- Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates and Venezuela are members of OPEC.
- OPEC sets production targets for its member nations.
- OPEC is an international organization headquartered in Vienna, Austria.
- OPEC was founded by five petroleum-exporting nations at a conference held 10–14 September 1960 in Baghdad, Iraq
4)   Consider the following statements about OPEC

1. OPEC is headquartered in Vienna, Austria.
2. Iran is member of OPEC.

Which of the above statements is/are correct?

a. Only 1
b. Only 2
c. Both
d. None
Answer  Explanation 

ANSWER: Both

Explanation:
Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates and Venezuela are members of OPEC. OPEC sets production targets for its member nations.

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