India signed an agreement to renew the supply of petroleum for five years up to 2022 with which neighbouring country?

Introduction / Context:
This question relates to India's energy and trade relations with neighbouring countries. Petroleum supply agreements are critical for landlocked neighbours that rely on India's refining and distribution network. Renewing such an agreement for a fixed period indicates stable cooperation and planning for long term energy security. Recognizing which country entered into a five year petroleum supply agreement with India, valid up to 2022, is part of current affairs knowledge concerning regional economics and diplomacy.

Given Data / Assumptions:

• The agreement concerns the supply of petroleum products by India to another country.
• The agreement renews this supply for five years up to 2022.
• The options are Nepal, United Arab Emirates, Iran, and Bhutan.
• The question focuses on a bilateral arrangement where India is the supplier.

Concept / Approach:
Nepal is a landlocked country that imports petroleum products through India. Historically, Indian Oil Corporation has supplied fuels to Nepal through a long standing agreement. This agreement has been periodically renewed for multi year periods. In the relevant time frame, India and Nepal signed a petroleum products supply agreement extending the arrangement for five years, up to 2022. The United Arab Emirates and Iran are major oil exporters themselves, and Bhutan has a different pattern of energy cooperation with India primarily involving hydropower, not a five year petroleum import agreement of this type. Therefore, the correct answer is Nepal.

Step-by-Step Solution:
Step 1: Identify that the beneficiary of the agreement is likely to be a landlocked or energy deficit neighbour of India. Step 2: Recall that Nepal imports most of its petroleum products from India under a formal supply agreement. Step 3: Connect the reference to a five year agreement up to 2022 with the renewal of the India Nepal petroleum products supply deal. Step 4: Eliminate the United Arab Emirates and Iran, which are exporters, and Bhutan, where the focus is more on hydropower cooperation.

Verification / Alternative check:
Reports on India Nepal bilateral relations and official announcements from Indian Oil Corporation describe the renewal of the petroleum products supply agreement for five years, extending its validity up to 2022. They emphasise that the agreement ensures uninterrupted fuel supplies to Nepal through Indian refining and distribution infrastructure. No similar five year, up to 2022, petroleum supply renewal description is associated with the United Arab Emirates, Iran, or Bhutan as importers in the same way.

Why Other Options Are Wrong:
The United Arab Emirates is a major exporter of crude oil and petroleum products and does not depend on India for basic fuel supplies, so the direction of trade is largely opposite. Iran is also a significant oil producer and exporter and would not be described as having India renew a five year petroleum supply agreement in this specific context. Bhutan cooperates with India mainly in hydropower projects and energy exchange, not through a headline petroleum supply deal of this kind. Hence, these options do not match the situation described.

Common Pitfalls:
A common error is to look only at which countries are associated with petroleum in general, without considering whether they are importers or exporters in relation to India. Another mistake is ignoring the landlocked status of Nepal and its dependence on Indian infrastructure. To avoid these pitfalls, candidates should consider geography, trade patterns, and the direction of energy flows in regional relationships.

Final Answer:
India renewed the petroleum products supply agreement for five years up to 2022 with Nepal.