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ONGC's arm signs MoU with SOCAR Trading SA

31 May 2016 Evaluate

ONGC Videsh (OVL), the overseas investment arm of public sector exploration major ONGC, has signed a memorandum of understanding (MoU) with SOCAR Trading SA to explore the possibility of joint marketing of the Indian firm’s crude oil portfolio.

ONGC is India's largest government-run corporation and produces about 70% of India's crude oil and natural gas. The corporation is the biggest public sector commercial organization in India with current market capitalization of about $31 billion.

Peers
Company Name CMP
ONGC 221.65
Oil India 452.60
Jindal Drilling&Inds 598.50
Deep Industries 797.15
Asian Energy Service 480.45
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