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History Of The Oil Industry In India
The history of the Indian oil industry extends back to the period of the British Raj, at a time when petroleum first became a primary global energy source. Colonial rule, 1858-1947 1866 : Oil discovery at Nahorpung, Assam. Not explored. 1882 : Big "Oil Seepage" in Digboi during construction of Dibrugarh-Ledo Railway Line. The first oil production started in India in 1889 near the town of Digboi in the state of Assam. A Small thatched structure was erected and christened "Oil well no.1" or "Discovery". This discovery came on the heels of industrial development. The Assam Railways and Trading Company (ARTC) had recently opened the area for trade by building a railway and later finding oil nearby. The first well was completed in 1890 and in 1893 first refinery started at Margharita, Assam. The Assam oil, Assam Oil Company was established in 1899 to oversee production. In 1901, Digboi Refinery was commissioned supplanting the earlier refinery at Margharita. At its peak during the Secon ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
British Raj
The British Raj (; from Hindi ''rāj'': kingdom, realm, state, or empire) was the rule of the British Crown on the Indian subcontinent; * * it is also called Crown rule in India, * * * * or Direct rule in India, * Quote: "Mill, who was himself employed by the British East India company from the age of seventeen until the British government assumed direct rule over India in 1858." * * and lasted from 1858 to 1947. * * The region under British control was commonly called India in contemporaneous usage and included areas directly administered by the United Kingdom, which were collectively called British India, and areas ruled by indigenous rulers, but under British paramountcy, called the princely states. The region was sometimes called the Indian Empire, though not officially. As ''India'', it was a founding member of the League of Nations, a participating nation in the Summer Olympics in 1900, 1920, 1928, 1932, and 1936, and a founding member of the United Nations in San F ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Oil And Natural Gas Commission
The Oil and Natural Gas Corporation (ONGC) is a central public sector undertaking under the ownership of Ministry of Petroleum and Natural Gas, Government of India. It is headquartered in New Delhi. 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. In November 2010, the Government of India conferred the '' Maharatna'' status to ONGC. In a survey by the Government of India for fiscal year 2019–20, it was ranked as the largest profit making Central Public Sector Undertaking (PSU) in India. It is ranked 25th among the Top 250 Global Energy Companies by Platts. ONGC is involved in exploring for and exploiting hydrocarbons in 26 sedimentary basins of India, and owns and operates over 11,000 kilometers of pipelines in the country. Its internat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
History Of The Petroleum Industry By Country
History (derived ) is the systematic study and the documentation of the human activity. The time period of event before the invention of writing systems is considered prehistory. "History" is an umbrella term comprising past events as well as the memory, discovery, collection, organization, presentation, and interpretation of these events. Historians seek knowledge of the past using historical sources such as written documents, oral accounts, art and material artifacts, and ecological markers. History is not complete and still has debatable mysteries. History is also an academic discipline which uses narrative to describe, examine, question, and analyze past events, and investigate their patterns of cause and effect. Historians often debate which narrative best explains an event, as well as the significance of different causes and effects. Historians also debate the nature of history as an end in itself, as well as its usefulness to give perspective on the problems o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
History Of The Petroleum Industry In The United States
The history of the petroleum industry in the United States goes back to the early 19th century, although the indigenous peoples, like many ancient societies, have used petroleum seeps since prehistoric times; where found, these seeps signaled the growth of the industry from the earliest discoveries to the more recent. Petroleum became a major industry following the oil discovery at Oil Creek, Pennsylvania, in 1859. For much of the 19th and 20th centuries, the US was the largest oil producing country in the world. US regained the position of the largest oil producing country in the world in 2018 and has it kept every year since as of 2022. 19th century Before the Drake well Native Americans had known of the oil in western Pennsylvania, and had made some use of it for many years before the mid-19th century. Early European explorers noted seeps of oil and natural gas in western Pennsylvania and New York. Interest grew substantially in the mid-1850s as scientists reported on the pot ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
History Of The Petroleum Industry In Canada
The Canadian petroleum industry arose in parallel with that of the United States. Because of Canada's unique geography, geology, resources and patterns of settlement, however, it developed in different ways. The evolution of the petroleum sector has been a key factor in the history of Canada, and helps illustrate how the country became quite distinct from her neighbour to the south. Although the conventional oil and gas industry in western Canada is mature, the country's Arctic and offshore petroleum resources are mostly in early stages of exploration and development. Canada became a natural gas-producing giant in the late 1950s and is second, after Russia, in exports; the country also is home to the world's largest natural gas liquids extraction facilities. The industry started constructing its vast pipeline networks in the 1950s, thus beginning to develop domestic and international markets in a big way. Despite billions of dollars of investment, its bitumen—especially wi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Center For Strategic And International Studies
The Center for Strategic and International Studies (CSIS) is an American think tank based in Washington, D.C. CSIS was founded as the Center for Strategic and International Studies of Georgetown University in 1962. The center conducts policy studies and strategic analyses of political, economic and security issues throughout the world, with a specific focus on issues concerning international relations, trade, technology, finance, energy and geostrategy. In the University of Pennsylvania's 2019 ''Global Go To Think Tanks Report'', CSIS is ranked the number one think tank in the United States across all fields, the "Top Defense and National Security Think Tank" in the world, and the 4th best think tank in the world overall. It was named as a "Defense and National Security Center of Excellence for 2016-2018". Since its founding, CSIS "has been dedicated to finding ways to sustain American prominence and prosperity as a force for good in the world", according to its website. C ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Liberalisation In India
The economic liberalisation in India refers to the opening of the country's economy to the world with the goal of making the economy more market and service-oriented, thus expanding the role of private and foreign investment. Indian economic liberalisation was part of a general pattern of economic liberalisation occurring across the world in the late 20th century. Although some attempts at liberalisation were made in 1966 and the early 1980s, a more thorough liberalisation was initiated in 1991. The reform was prompted by a balance of payments crisis that had led to a severe recession and also as per structural adjustment programs for taking loans from IMF and World Bank. Through reform, India overcame its worst economic crisis in the remarkably short period of two years. Specific changes included reducing import tariffs, deregulating markets, and reducing taxes, which led to an increase in foreign investment and high economic growth in the 1990s and 2000s. From 1992 to 20 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dissolution Of The Soviet Union
The dissolution of the Soviet Union, also negatively connoted as rus, Разва́л Сове́тского Сою́за, r=Razvál Sovétskogo Soyúza, ''Ruining of the Soviet Union''. was the process of internal disintegration within the Soviet Union (USSR) which resulted in the end of the country's and its federal government's existence as a sovereign state, thereby resulting in its constituent republics gaining full sovereignty on 26 December 1991. It brought an end to General Secretary Mikhail Gorbachev's (later also President) effort to reform the Soviet political and economic system in an attempt to stop a period of political stalemate and economic backslide. The Soviet Union had experienced internal stagnation and ethnic separatism. Although highly centralized until its final years, the country was made up of fifteen top-level republics that served as homelands for different ethnicities. By late 1991, amid a catastrophic political crisis, with several republics alre ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Great Game
The Great Game is the name for a set of political, diplomatic and military confrontations that occurred through most of the 19th century and the beginning of the 20th century – involving the rivalry of the British Empire and the Russian Empire over Emirate of Afghanistan, Afghanistan and neighbouring territories in Central Asia, Central and South Asia, such as Turkestan, and having direct consequences in Qajar Iran, Persia, British Raj, British India, and Tibet. Britain concluded, from Russia's military expansion in Central Asia and from diplomatic and intelligence information, that Russia planned to invade India as an ultimate goal. Meanwhile, the Russian Empire had analysed Britain's political behavior as planning the expansion of British interests in Central Asia. As a result, there was an atmosphere of deep distrust, and talk of war between these two major Colonial empire, European empires of that time, culminating in several regional wars, and years of diplomatic intrigu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trickle-down Economics
Trickle-down economics is a term used in critical references to economic policies that favor the upper income brackets, corporations, and individuals with substantial wealth or capital. In recent history, the term has been used by critics of supply-side economics. Whereas general supply-side theory favors lowering taxes overall, trickle-down theory more specifically advocates for a lower tax burden on the upper end of the economic spectrum. Major examples of US Republicans supporting what critics call "trickle-down economics" include the Reagan tax cuts, the Bush tax cuts and the Tax Cuts and Jobs Act of 2017. In each of the aforementioned tax reforms, taxes were cut across all income brackets, but the biggest reductions were given to the highest income earners, although the Reagan Era tax reforms also introduced the earned income tax credit which has received bipartisan praise for poverty reduction and is largely why the bottom half of workers pay no federal income tax. Si ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Monetary Fund
The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world." Formed in 1944, started on 27 December 1945, at the Bretton Woods Conference primarily by the ideas of Harry Dexter White and John Maynard Keynes, it came into formal existence in 1945 with 29 member countries and the goal of reconstructing the international monetary system. It now plays a central role in the management of balance of payments difficulties and international financial crises. Countries contribute funds to a pool through a quota system from which countries experiencing balance of payments problems can borrow money. , the fund had XDR 477 billion (a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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