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India's Oil and Natural Gas Corporation (ONGC) has signed a memorandum of understanding with Indian Oil Corporation (IOC) to explore downstream opportunities, especially in petrochemicals. The two firms will consider greenfield projects and acquisitions that will enable ONGC to meet growing demand for the building blocks that form a range of plastics, paints, detergents and tyres.
ONGC, which produces two-thirds of the nation's oil that is refined into fuels like petrol and diesel and more than half of gas that is used to make fertilisers and turned into CNG, already has two downstream petrochemical plants through subsidiaries.
India's top oil and natural gas producer ONGC has signed a mega pact with the nation's largest oil refining and fuel marketing company Indian Oil Corporation (IOC) for exploring opportunities in the petrochemicals business.
India's top oil and natural gas producer ONGC has signed a pact with the nation's largest oil refining and fuel marketing company Indian Oil Corporation (IOC) for exploring opportunities in the petrochemicals business.
India's Oil and Natural Gas Corporation (ONGC) has signed a memorandum of understanding with Indian Oil Corporation (IOC) to explore downstream opportunities, especially in petrochemicals. The two firms will consider greenfield projects and acquisitions that will enable ONGC to meet growing demand for the building blocks that form a range of plastics, paints, detergents and tyres.