13th August 2019 Daily Current Affairs:
RIL Saudi Aramco deal:
- Saudi Aramco is set to acquire 20 percent stake in RIL oil refinery and chemical business at a value of $75 billion or over 5.3 lakh crore.
- It would be one of India’s largest foreign direct investment deals to date.
- The announcement was made by Reliance Industries Limited (RIL) Chairman Mukesh Ambani during the 42nd Annual General Meeting of Reliance Industries on August 12.
- Under the deal, Saudi Aramco will buy 20 percent stake in a proposed special purpose vehicle (SPV) housing RIL’s twin refineries as well as its petrochemical complex.
- Saudi Aramco has also agreed to supply 5,00,000 barrels per day of crude oil to RIL’s twin refineries at Jamnagar in Gujarat on a long-term basis.
- RIL operates two refineries in Jamnagar, Gujarat, which have a total capacity of 68.2 million tonnes per annum.
- The Jamnagar Refinery is one of the world’s largest oil refining facility.
- It can process 1.4 million barrels per day (BPD) and plans to expand its capacity to 2 million BPD by 2030.
International Youth Day:
- International Youth Day (IYD), observed on August 12, is an awareness day designated by the UN.
- The purpose of the day is to draw attention to a given set of cultural and legal issues surrounding youngsters.
- It highlights efforts to make education more relevant, equitable and inclusive for all youth, including efforts by youth themselves.
- IYD was first celebrated on August 12, 2000, after the UN General Assembly passed a resolution accepting the recommendation made by the World Conference of Ministers Responsible for Youth in Lisbon in 1998.
88 militants belonging to banned outfit NLFT surrender in Tripura:
- In Tripura, 88 militants belonging to banned outfit NLFT (Sabir Deb barma faction) has surrendered.
- The militants surrendered in presence of Chief Minister Biplab Kumar Deb and his deputy Jishnu Debbarma.
- Earlier, on Sunday, a tripartite Memorandum of Understanding (MoU) was signed among the NLFT (SD), Tripura Government and the Central Government.
- As per the memorandum, NLFT (SD) has agreed to abjure the path of violence, join the mainstream and abide by the Constitution of India.
- The surrendered cadres will be given surrender benefits as per the Surrender-cum-Rehabilitation Scheme, 2018 of the Ministry of Home Affairs.
- The State Government of Tripura will help the surrendered cadres in housing, recruitment, education etc.
- Government of India will consider the proposals of Tripura State Government regarding economic development of tribal areas of Tripura.
World Biofuel Day:
- It is observed to create awareness about the importance of non-fossil fuels as an alternative to conventional fossil fuels.
- The theme of this year's Biofuel Day is Production of Bio-diesel from Used Cooking Oil.
- The event was aimed at reducing dependency on biofuel and adopting alternative sources of energy and effective management of used cooking oil.
- Food Safety and Standard Authority of India, in association with the Health Ministry, has started an initiative -- Repurpose of Used Cooking Oil in which the used oil will be collected from hotels and restaurants and sent to the biodiesal plants for blending.
What are Biofuels?
- They are environment friendly fuels which are derived from renewable bio-mass resources.
- Biofuels utilization would address global concerns about supression of carbon emissions.
- Being eco-friendly they provide a strategic advantage to promote sustainable development. They also supplement conventional energy sources in meeting rapidly increasing demand for transportation fuels.
Biofuel in India:
- Bioethanol : Ethanol produced from biomass such as sugar containing materials, starch containing materials and cellulosic materials.
- Biodiesel : a methyl or ethyl ester of fatty acids produced from non-edible vegetable oils, acid oil, used cooking oil/animal fat and bio-oil.
- Drop-in fuels : Any liquid fuel produced from Biomass, agri-residues, wastes such as Municipal Solid Wastes (MSW), Plastic wastes, Industrial wastes etc .
- Bio-CNG: it is a purified form of bio-Gas whose energy potential and composition is similar to that of fossil based natural gas.