Business Daily from THE HINDU group of publications
Friday, Jun 06, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Friday, Jun 06, 2008 ePaper | Mobile/PDA Version | Audio |
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Corporate
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Alliances & Joint Ventures Industry & Economy - Petroleum
New Delhi, June 5 OIL and Natural Gas Corporation Ltd. (ONGC) has entered into a contract with Reliance Industries Ltd to hire the latter’s single point mooring facility on Arabian Sea off Hazira coast in Gujarat. In a statement issued here, the company said, “this SPM will be used by ONGC to export the naphtha produced by its Hazira Plant in Gujarat.” ONGC produces around a million tonne of naphtha every year. The agreement was concluded here on Thursday. The naphtha prod uced at the Hazira plant of ONGC is mostly exported, after taking domestic demand into account, the statement said. “To facilitate this export, on expiry of existing contract, ONGC has entered into this new contract with fresh terms and conditions with better operational flexibility in obtaining windows and use of the SPM facility, ownedand operated by RIL,” it added. — Our Bureau More Stories on : Alliances & Joint Ventures | Petroleum | Oil & Natural Gas Corporation Ltd | Reliance Industries Ltd
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