Today: 28 October 2025
18 November 2021
2 mins read

ONGC, Saudi Aramco ink feedstock and marketing deal

The MoU was signed by ONGC Chairman and Managing Director (CMD) Subhash Kumar and Saudi Aramco Senior Vice President of Downstream Mohammed Yahya Al Qahtani…reports Asian Lite News

To explore a strategic alliance on a broad range of energy prospects, public sector oil and gas explorer Oil and Natural Gas Corporation Limited (ONGC) has inked a Memorandum of Understanding (MoU) with world’s largest oil company Saudi Aramco.

The two energy companies will look into long-term supply contracts for the sale and purchase of crude, refined petroleum and petrochemical products to create secure and competitive energy sources for the Indian market.

ONGC, Saudi Aramco ink feedstock and marketing deal

Both the entities also hope to utilize their affiliates in this strategic alliance, namely; Mangalore Refinery and Petrochemicals Ltd. (MRPL), ONGC Petro-additions Ltd. (OPaL) and ONGC Mangalore Petrochemicals Ltd. (OMPL) of ONGC and Aramco Trading Company (ATC) of Saudi Aramco.

They also look forward to exploring low carbon energy demand and supply as part of this strategic alliance.

The MoU was signed by ONGC Chairman and Managing Director (CMD) Subhash Kumar and Saudi Aramco Senior Vice President of Downstream Mohammed Yahya Al Qahtani on Thursday.

The signing ceremony took place at the Saudi Arabia Pavilion at Dubai Expo 2020.

Speaking on the occasion, Kumar said: “This MoU further strengthens our bilateral energy relationship, which is one of the cornerstones of the solid historical ties between India and Saudi Arabia. This collaboration will bolster companies’ capabilities, leveraging our respective in-house competencies while creating value for all stakeholders and offering a framework for expanding the cooperation in other energy-related areas.”

Mohammed Yahya Al Qahtani said: “This ceremony is a testament to the strong and valuable relations between our economies, our countries and our people. India is a strategic and significant market of the Kingdom and we look forward to enhancing our synergies by providing mutually-beneficial opportunities through our global-scale trading network and system with a competitive offering. We hope this will open more areas of collaboration in the future to expand our global footprint.”

ALSO READ: Saudi to establish first non-profit city in world

ONGC and its affiliates have a significant presence in exploration and production, domestic refining, petrochemicals, power and renewables in India. ONGC Group has a diversified line of business such as pipelines, LNG re-gasification terminals and a number of subsidiaries and joint ventures in energy-related businesses.

Saudi Aramco is a leading integrated energy and chemicals company engaged in oil exploration, production, transportation, refining, logistics, power generation and marketing of crude oil, petroleum and petrochemical products, with a strong network of affiliates and joint ventures.

Previous Story

Airbus forecasts 3,020 new aircraft deliveries in M-E by 2040

Next Story

Pak decision on India’s wheat still pending

Latest from Arab News

Gazans Struggle to Revive Life

Today, Gaza’s markets seem to awaken from beneath the ruins. Partially destroyed shops opened their doors amid streets littered with debris, while merchants attempt to arrange what remains of their goods on

GAZA AID: MSF raps Israel

Doctors Without Borders (MSF) says Israel Continues to Use Aid as a Weapon of War Against Gaza Strip…reports Asian Lite News Doctors Without Borders (MSF) said that despite the ceasefire agreement, Israel

Qatar Emir Meets Trump

HH the Amir welcomed HE the US President and his accompanying delegation, expressing his pleasure at meeting the President during his stopover in Qatar…reports Asian Lite News HH the Amir Sheikh Tamim

World Court slams Israel

The International Court of Justice says Israel must uphold human rights and ensure humanitarian aid reaches Palestinians, adding moral pressure on Tel Aviv amid Gaza’s worsening crisis….reports Asian Lite News The International

Arab world blasts Israel’s annexation bid

Arab and Muslim nations unite to denounce Israel’s West Bank annexation bills, citing international law and ICJ rulings, as Israel freezes legislation amid global diplomatic pressure. A broad coalition of Arab and
Go toTop

Don't Miss

Dubai’s RTA urges emission reduction and eco-friendly mobility

RTA encouraged community groups to adopt healthier habits and educates

54% turnout in penultimate phase of UP polls

Ambedkar Nagar recorded the highest number of turnout, while Balrampur