ONGC, HPCL to share infrastructure

India’s state-owned exploration and production company Oil and Natural Gas Corp. (ONGC) and refining and marketing major Hindustan Petroleum Corp. Ltd. (HPCL) have entered into a memorandum of understanding to share infrastructure and expertise. As per the agreement, ONGC through its subsidiary MRPL and Tatipaka Refinery will supply all grades of petroleum products to HPCL. HPCL, in turn, will provide road and rail terminal services from its Mangalore, Hassan and Devanagunthi units, LPG Import Facility at Mangalore and ATF handling facilities at Bangalore, Kozhikode and Goa. HPCL will also supply motor spirit and high-speed diesel and extend infrastructure services to ONGC-MRPLs retail outlets. In turn, ONGC will supply products from its Tatipaka refinery to HPCLs customers in Visakhapatnam, Rajamundry, Vijayawada, Suryapet, Ghatkesar, Mumbai, Vashi, Loni, Hazarwadi and Pakni. However, it has been mutually agreed that neither party shall solicit business from each others exclusive institutional customers. (July 20, 2007)