Oil & Natural Gas Corporation Ltd.

Oil and Natural Gas Corporation’s (ONGC) wholly owned subsidiary -- ONGC Videsh (OVL) along with Oil India (OIL), and Khanij Bidesh India (KABIL) have signed a Memorandum of Understanding (MOU) with International Resources Holding RSC (IRH), UAE, to collaborate globally on the Critical Mineral supply chain. The primary goals of this MoU are to identify, acquire, and develop Critical Mineral projects worldwide, including India. 

The parties aim to leverage their expertise, resources, and networks to pursue mutually beneficial opportunities, achieve operational excellence, and secure a stable supply of critical energy minerals. The MOU outlines a cooperative and coordinated approach, focusing on project identification, joint due diligence, risk management, and developing a long-term offtake strategy.

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.