ONGC to supply products to HPCL customers
Oil and Natural Gas Corp said it has entered into an agreement with Hindustan Petroleum Corp Ltd (HPCL) to supply products to the latter's customers.
By PTI |
NEW DELHI: Oil and Natural Gas Corp (ONGC) on Wednesday said it has entered into an agreement with Hindustan Petroleum Corp Ltd (HPCL) to supply products to the latter's customers.
The memorandum of understanding (MoU) was signed by ONGC Chairman and Managing Director R S Sharma and HPCL CMD Arun Balakrishnan.
Under the agreement, HPCL would supply petrol and diesel and extend infrastructure services to ONGC for delivery to ONGC-MRPL petrol stations, ONGC said in a release.
ONGC would supply products from its Tatipaka refinery to HPCL customers in Vizag, Rajamundry, Vijayawada, Suryapet, Ghatkesar, Mumbai, Vashi, Loni, Hazarwadi and Pakni, for evacuation and marketing by HPCL.
The MoU would facilitate ONGC and MRPL in direct marketing of products. "However, it has been mutually agreed that neither party shall solicit business from each other's institutional exclusive customers," the release said.
In case of large volume strategic customers suiting specific logistics, both parties shall mutually agree for supplies on proportionate basis.
In addition, HPCL and ONGC would cooperate on training and development, and foray into oil exploration, refining, marketing, infrastructure development, petrochemicals and other energy-related ventu.
The memorandum of understanding (MoU) was signed by ONGC Chairman and Managing Director R S Sharma and HPCL CMD Arun Balakrishnan.
Under the agreement, HPCL would supply petrol and diesel and extend infrastructure services to ONGC for delivery to ONGC-MRPL petrol stations, ONGC said in a release.
ONGC would supply products from its Tatipaka refinery to HPCL customers in Vizag, Rajamundry, Vijayawada, Suryapet, Ghatkesar, Mumbai, Vashi, Loni, Hazarwadi and Pakni, for evacuation and marketing by HPCL.
The MoU would facilitate ONGC and MRPL in direct marketing of products. "However, it has been mutually agreed that neither party shall solicit business from each other's institutional exclusive customers," the release said.
In case of large volume strategic customers suiting specific logistics, both parties shall mutually agree for supplies on proportionate basis.
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In addition, HPCL and ONGC would cooperate on training and development, and foray into oil exploration, refining, marketing, infrastructure development, petrochemicals and other energy-related ventu.
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