India's petroleum planning body signs MoU with IEA
28 Oct 2009
Petroleum Planning and Analysis Cell (PPAC), a body under the ministry of petroleum and natural gas, has signed a memorandum of understanding (MoU) with Paris-based International Energy Agency (IEA) on cooperation in oil and gas sector.
The MoU, signed on 23 October, provides for cooperation between the two agencies for exchange of oil and gas market data and statistics.
The MoU would also help in exchange of technical experience and expertise in data management and analysis and for conduct of joint studies on global and regional oil and gas markets, a government release said.
The MoU will help PPAC enhance its knowledge and understanding of the functioning of the oil and gas markets at regional and global level and develop sound analytical techniques, the release said.
"The recurring oil market volatility and resultant uncertainties require accurate analysis. IEA has expertise in data gathering and analysis on oil markets since its inception in 1974," the release noted.
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