HPCL, ONGC sign infrastructure sharing accord

Hindustan Petroleum Corporation Ltd (HPCL) and ONGC have signed a wide-ranging cooperation agreement in energy and related fields.

The agreement will assure domestic oil supplies to HPCL from ONGC and its subsidiary MRPL, helping it to reduce its imports, in return HPCL will provide infrastructure support and services to the two companies.

They will also agreed their expertise in downstream and upstream sectors respectively, by providing training support to each others'' employees.

HPCL and ONGC have also agreed to support each other and jointly evaluate possibilities to collaborate in the fields of oil exploration, refining, marketing, infrastructure development, petrochemicals and other energy and related ventures in India and abroad.