For Quick Alerts
For Daily Alerts

ONGC & Shell likely to form alliance to bid for overseas assets

By Religare

State-run Oil and Natural Gas Corp (ONGC) and energy major, Shell are likely to enter into a joint venture in order to bid for the global oil and gas assets.

Both ONGC and Shell are keen to explore upstream and downstream opportunities domestically. The partnership would help ONGC develop a strong foothold in the gas business, said the media report.

The statement said that such an alliance would mark Shell's return to the Indian E&P sector after selling its 50 per cent stake in the prolific Barmer block in Rajasthan to Cairn India for $7.5 million.


Besides, Shell and ONGC had earlier signed an MoU in 2006 in a bid to examine momentous opportunities , both in India and other regions across the world, which did not turned to success because of some cabinet approvals.

Read more about: ongc shell
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more