Current Affairs Quiz 21 February 2024
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Current Affairs Quiz 21 February 2024 for UPSC Prelims
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- Question 1 of 5
1. Question
Consider the following statements about Organization of the Petroleum Exporting Countries (OPEC)
1. It is an intergovernmental organization of 9 nations.
2. The stated mission of the organization is to coordinate and unify the petroleum policies of its member countries and ensure the stabilization of oil markets,
Which of the statements given above is/are correct?CorrectAnswer: B
About Organization of the Petroleum Exporting Countries (OPEC)
• The Organization of the Petroleum Exporting Countries is an intergovernmental organization of 14 nations, founded in 1960 in Baghdad by the first five members (Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela), and headquartered since 1965 in Vienna, Austria.
• As of 2018, the 14 member countries accounted for an estimated 44 percent of global oil production and almost 82% of the world’s “proven” oil reserves, giving OPEC a major influence on global oil prices that were previously determined by the so-called “Seven Sisters” grouping of multinational oil companies.
• The stated mission of the organization is to “coordinate and unify the petroleum policies of its member countries and ensure the stabilization of oil markets, in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers, and a fair return on capital for those investing in the petroleum industry.IncorrectAnswer: B
About Organization of the Petroleum Exporting Countries (OPEC)
• The Organization of the Petroleum Exporting Countries is an intergovernmental organization of 14 nations, founded in 1960 in Baghdad by the first five members (Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela), and headquartered since 1965 in Vienna, Austria.
• As of 2018, the 14 member countries accounted for an estimated 44 percent of global oil production and almost 82% of the world’s “proven” oil reserves, giving OPEC a major influence on global oil prices that were previously determined by the so-called “Seven Sisters” grouping of multinational oil companies.
• The stated mission of the organization is to “coordinate and unify the petroleum policies of its member countries and ensure the stabilization of oil markets, in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers, and a fair return on capital for those investing in the petroleum industry. - Question 2 of 5
2. Question
With reference to ‘stem cells’, frequently in the news, which of the following statements is/are correct?
1. Stem cells can be derived from mammals only
2. Stem cells can be used for screening new drugs
3. Stem cells can be used for medical therapies
Select the correct answer using the codes given below:CorrectAns: (b)
Exp:
• Stem cells are undifferentiated or “blank,” cells capable of developing into cells that serve numerous functions in different parts of the body. Most cells in the body are differentiated cells. These cells can only serve a specific purpose in a particular organ. For example, red blood cells are specifically designed to carry oxygen through the blood.
• Stem cells are not only found in mammals, but also found in plants and other organisms. Hence, statement 1 is not correct.IncorrectAns: (b)
Exp:
• Stem cells are undifferentiated or “blank,” cells capable of developing into cells that serve numerous functions in different parts of the body. Most cells in the body are differentiated cells. These cells can only serve a specific purpose in a particular organ. For example, red blood cells are specifically designed to carry oxygen through the blood.
• Stem cells are not only found in mammals, but also found in plants and other organisms. Hence, statement 1 is not correct. - Question 3 of 5
3. Question
With what purpose is the Government of India promoting the concept of “Mega Food Parks”?
1. To provide good infrastructure facilities for the food processing industry.
2. To increase the processing of perishable items and reduce wastage.
3. To provide emerging and eco-friendly food processing technologies to entrepreneurs.
Select the correct answer using the codes given below:CorrectAns: (b)
IncorrectAns: (b)
- Question 4 of 5
4. Question
Consider the following statements:
1. Genetic changes can be introduced in the cells that produce eggs or sperms of a prospective parent.
2. A person’s genome can be edited before birth at the early embryonic stage.
3. Human induced pluripotent stem cells can be injected into the embryo of a pig.
Which of the statements given above is/are correct?CorrectAns: (d)
IncorrectAns: (d)
- Question 5 of 5
5. Question
Consider the following statements with respect to West Coast Refinery Project
1. India and Saudi Arabia recently agreed to speed up the implementation of the West Coast refinery project.
2. The project is planned to be situated on India’s western coast, specifically in Ratnagiri, Maharashtra.
Which of the statement(s) given above is/are correct?CorrectAnswer : C
West Coast Refinery Project (Ratnagiri Refinery and Petrochemicals Ltd. – RRPCL):
• Project Inception: The West Coast refinery project, also known as RRPCL, was initially conceptualized in 2014 as a significant endeavor in India’s oil and gas sector.
• Size and Capacity: This project was envisioned as India’s largest greenfield refinery with an impressive capacity of 60 million tonnes per annum. It is anticipated to become the world’s largest integrated refinery and petrochemical facility upon completion.
• Location: As the name suggests, the project is planned to be situated on India’s western coast, specifically in Ratnagiri, Maharashtra.
• Production: When fully operational, the refinery is expected to produce approximately 1.2 million barrels of oil per day. Additionally, it will generate various petroleum products through attached petrochemical plants.
• Joint Venture: Three leading government-owned public sector undertakings in India’s oil and gas sector joined forces in a joint venture partnership known as RRPCL. This partnership was formed in 2017.
• RRPCL Composition: RRPCL is a joint venture with a 50:25:25 ownership structure, with India’s three national oil companies participating – Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Limited (HPCL).
• Involvement of International Entities: In 2019, Saudi Aramco and the Abu Dhabi National Oil Company (ADNOC) became involved in the project. They collectively acquired a 50 percent stake, estimated to be worth around Rs 3 lakh crore, primarily in setup costs. This international partnership enhances the project’s global significance and investment scale.IncorrectAnswer : C
West Coast Refinery Project (Ratnagiri Refinery and Petrochemicals Ltd. – RRPCL):
• Project Inception: The West Coast refinery project, also known as RRPCL, was initially conceptualized in 2014 as a significant endeavor in India’s oil and gas sector.
• Size and Capacity: This project was envisioned as India’s largest greenfield refinery with an impressive capacity of 60 million tonnes per annum. It is anticipated to become the world’s largest integrated refinery and petrochemical facility upon completion.
• Location: As the name suggests, the project is planned to be situated on India’s western coast, specifically in Ratnagiri, Maharashtra.
• Production: When fully operational, the refinery is expected to produce approximately 1.2 million barrels of oil per day. Additionally, it will generate various petroleum products through attached petrochemical plants.
• Joint Venture: Three leading government-owned public sector undertakings in India’s oil and gas sector joined forces in a joint venture partnership known as RRPCL. This partnership was formed in 2017.
• RRPCL Composition: RRPCL is a joint venture with a 50:25:25 ownership structure, with India’s three national oil companies participating – Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Limited (HPCL).
• Involvement of International Entities: In 2019, Saudi Aramco and the Abu Dhabi National Oil Company (ADNOC) became involved in the project. They collectively acquired a 50 percent stake, estimated to be worth around Rs 3 lakh crore, primarily in setup costs. This international partnership enhances the project’s global significance and investment scale.
