India’s ONGC Videsh, Azerbaijan’s SOCAR look to jointly sell oil

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New Delhi | Published: May 31, 2016 5:47 PM

OVL, the overseas assets acquisition arm of the country's biggest explorer, Oil and Natural Gas Corp, wants to leverage the experience...

ONGC wants to leverage the experience of SOCAR Trading South Arabia in oil marketing. (Reuters)ONGC wants to leverage the
experience of SOCAR Trading South Arabia in oil marketing. (Reuters)
India’s ONGC  Videsh has signed a preliminary agreement with the trading arm of Azerbaijan’s state energy company SOCAR to look at jointly marketing crude oil, the Indian company said in a statement on Tuesday.
OVL, the overseas assets acquisition arm of the country’s biggest explorer, Oil and Natural Gas Corp, wants to leverage the
experience of SOCAR Trading South Arabia in oil marketing, it said.
Reuters had reported about the deal on Monday.  

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