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Mon, 16 August 2010
Indian Oil Corporation (IOC), Bharat Petroleum Corporation and Hindustan Petroleum Corporation have reached an agreement with Gujarat State Petroleum Corporation (GSPC) to form a joint venture (JV) to bid for gas trunk pipelines.
The four companies have signed a memorandum of understanding (MoU) to jointly bid for pipeline projects tendered by the country’s Petroleum and Natural Gas Regulatory Board (PNGRB).
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An official JV will be formed when the consortium is granted authorisation by the PNGRB to construct its first pipeline project.
Image caption:
Map of Indian Oil Corporation’s piepeline assets in India.
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