Oil & Natural Gas Corporation (ONGC) has inked the Crude Oil Sales Agreement (COSA) with Mangalore Refinery and Petrochemicals (MRPL) which is the largest single-location PSU refinery in the country. The agreement has been signed by the two entities for the sale and purchase of crude oil.
The current agreement between ONGC and MRPL will be applicable till March 31, 2024. This agreement between the two group companies is expected to bring synergy and is expected to streamline the sale and purchase transactions of crude oil from ONGC’s fields in Mumbai High.
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.
