On 24th January ____, a 100% public sector enterprise, Bharat Refineries Limited, acquired complete ownership of Burmah Shell's interests in India.
Show answer & explanation
Correct answer: B
Explanation
Correct Answer:
Option 2: 1976
Explanation:
On January 24, 1976, Bharat Refineries Limited (a 100% government-owned company) acquired all of Burmah Shell's interests in India. This move was part of the process of nationalizing the oil industry in India. Its objective was to increase government control over energy resources and make the country self-reliant. Later, this very company evolved into 'Bharat Petroleum' (BPCL), which stands today as one of India's leading oil companies.
Potential Questions for Upcoming Exams:
Question: When did the nationalization of the oil industry take place in India?
Answer: In the 1970s.
Question: What is the full form of BPCL?
Answer: Bharat Petroleum Corporation Limited.
Question: Which are the major oil companies in India?
Answer: IOCL, BPCL, HPCL.
Question: When was ONGC established?
Answer: 1956.