ONGC seeks collaboration with Shell India for retail biz: Media Reports

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State-run Oil and Natural Gas Corporation (ONGC) is looking for a possible collaboration of the company or its subsidiary, Mangalore Refinery and Petrochemicals Ltd. (MRPL) with Shell India, which is the only foreign company in the country's retailing space, said the media reports.

Subsequent to the proposed tie-up, the phased deregulation of diesel could see a modification in businesses of three companies ONGC, MRPL and Shell India, which hold authorization to set up retail fue outlet.

Meanwhile, ONGC, CMD, Sudhir Vasudeva has told media that the company along with Shell India were also doing due diligence for the Nagarjuna refinery.

Besides, the two players are also seeking to tie-up for deep-water exploration and production, the report added.

Story first published: Tuesday, June 11, 2013, 12:42 [IST]
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