Beijing: China National Petroleum Corp (CNPC) and India’s state-owned Oil and Natural Gas Corp (ONGC) inked an agreement on Tuesday to foster cooperation on hydrocarbon exploration, crude oil refining, distribution of petroleum products and building oil and gas pipelines. The two companies will also jointly bid for energy assets overseasThe deal could also see CNPC participating in efforts to develop and exploit ONGC’s domestic assets
ONGC is India’s largest oil and gas exploration company and it contributes 77 percent of the country’s crude oil and 81 percent of natural gas. [20/06/12]
