IOC, Sinopec ink MoU

NEW DELHI: Indian Oil Corporation (IOC) has signed an MoU with Chinese oil major Sinopec to collaborate in refining, petrochemicals and oil and gas exploration in other countries. “The joint effort will be mutually beneficial to both companies and countries,” petroleum minister Murli Deora said. The MoU was signed by IOC director BM Bansal and Sinopec director general Chen Qi during the visit of an Indian delegation to China.