CLAT GurukulSamudraManthan
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Topic 182 · Economy, Budget & Banking

Energy security, strategic reserves and 1970s oil shocks

10 MCQs · tap an option to check it · All answers

Revise the 12 points first Book 1 RATNA
  1. Core Trigger: The 2026 West Asia crisis tested India's energy defences; on 28 July 2026 the Centre approved the Rs 84,084-crore Samudra Manthan scheme.
  2. Policy Theme: INSA's 2026 brief proposes four pillars: Adequacy, Access, Affordability and Appropriate Sustainability.
  3. Current Head: Fatih Birol is Executive Director of the International Energy Agency.
  4. Strategic Reserve: India's reserves hold 3.37 million tonnes against 5.33 million tonnes of capacity, about 63% full.
  5. Data Point: Import dependence hit 88.5% in the first ten months of FY26; Russian crude reached a record 2.6 million barrels a day.
  6. Chokepoint: Nearly half of India's oil imports transit Hormuz; India buys crude from over 41 countries.
  7. India Link: Ethanol blending reached 20% in 2025-26; renewable capacity stood at 274.68 GW in March 2026.
  8. Headquarters: The IEA sits in Paris; OPEC moved from Geneva to Vienna on 1 September 1965.
  9. Founded: The IEA was created on 18 November 1974 after the 1973 crisis; OPEC was founded at Baghdad in September 1960.
  10. Landmark: OAPEC, not OPEC, imposed the October 1973 embargo; the 1979 shock followed the Iranian Revolution.
  11. Statute: The Essential Commodities Act, 1955 lets the Centre control petroleum supply; ISPRL, incorporated 16 June 2004, runs the reserves.
  12. Doctrine: IEA members must hold stocks of 90 days of net imports; India, an Association country since 2017, is not bound.
Question 1 of 10

Which scheme of Rs 84,084 crore did the Centre approve on 28 July 2026?

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Answer: (C) Samudra Manthan

Core Trigger: The 2026 West Asia crisis tested India's energy defences; on 28 July 2026 the Centre approved the Rs 84,084-crore Samudra Manthan scheme.From Book 1 RATNA, topic 182, point 1

Question 2 of 10

Consider: 1. Adequacy is one of INSA's four energy pillars. 2. Autonomy is one of INSA's four energy pillars. Which is/are correct?

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Answer: (A) Only 1

Policy Theme: INSA's 2026 brief proposes four pillars: Adequacy, Access, Affordability and Appropriate Sustainability.From Book 1 RATNA, topic 182, point 2

Question 3 of 10

Who is Executive Director of the International Energy Agency?

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Answer: (D) Fatih Birol

Current Head: Fatih Birol is Executive Director of the International Energy Agency.From Book 1 RATNA, topic 182, point 3

Question 4 of 10

About what share of India's strategic reserve capacity is currently full?

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Answer: (B) 63%

Strategic Reserve: India's reserves hold 3.37 million tonnes against 5.33 million tonnes of capacity, about 63% full.From Book 1 RATNA, topic 182, point 4

Question 5 of 10

Russian crude imports reached a record of how much a day?

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Answer: (D) 2.6 million barrels

Data Point: Import dependence hit 88.5% in the first ten months of FY26; Russian crude reached a record 2.6 million barrels a day.From Book 1 RATNA, topic 182, point 5

Question 6 of 10

Nearly half of India's oil imports transit which chokepoint?

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Answer: (B) Hormuz

Chokepoint: Nearly half of India's oil imports transit Hormuz; India buys crude from over 41 countries.From Book 1 RATNA, topic 182, point 6

Question 7 of 10

The IEA has its headquarters in which city?

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Answer: (B) Paris

Headquarters: The IEA sits in Paris; OPEC moved from Geneva to Vienna on 1 September 1965.From Book 1 RATNA, topic 182, point 8

Question 8 of 10

OPEC was founded in September 1960 at which city?

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Answer: (A) Baghdad

Founded: The IEA was created on 18 November 1974 after the 1973 crisis; OPEC was founded at Baghdad in September 1960.From Book 1 RATNA, topic 182, point 9

Question 9 of 10

Which organisation, not OPEC, imposed the October 1973 oil embargo?

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Answer: (D) OAPEC

Landmark: OAPEC, not OPEC, imposed the October 1973 embargo; the 1979 shock followed the Iranian Revolution.From Book 1 RATNA, topic 182, point 10

Question 10 of 10

Consider: 1. India has been an IEA Association country since 2017. 2. India is bound to hold 90 days of net-import stocks. Which is/are correct?

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Answer: (A) Only 1

Doctrine: IEA members must hold stocks of 90 days of net imports; India, an Association country since 2017, is not bound.From Book 1 RATNA, topic 182, point 12

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