11/22/21, 5:44 PM ONGC, Saudi Aramco sign feedstock & marketing MoU

ONGC, Saudi Aramco sign feedstock & marketing MoU

Dated : 22 November 2021 11:39:00 AM

To explore a strategic alliance on a broad range of energy prospects, India’s Oil and Natural Gas Corporation
Limited (ONGC) has inked a Memorandum of Understanding (MoU) with Saudi Arabian state oil producer Saudi
Aramco. The two energy companies will look into long-term supply contracts for the sale and purchase of crude,
refined petroleum and petrochemical products to create secure and competitive energy sources for the Indian
market.

Both the parties also hope to utilize their affiliates in this strategic alliance, namely; Mangalore Refinery and
Petrochemicals Ltd. (MRPL), ONGC Petro-additions Ltd. (OPaL) and ONGC Mangalore Petrochemicals Ltd. (OMPL)
of ONGC and Aramco Trading Company (ATC) of Saudi Aramco. Both parties also look forward to exploring low
carbon energy demand and supply as part of this strategic alliance.

ONGC CMD Subhash Kumar (left) and Saudi Aramco Senior Vice President of Downstream Mohammed Yahya Al
Qahtani (right)

The MoU was signed by ONGC Chairman and Managing Director (CMD) Subhash Kumar and Saudi Aramco Senior
Vice President of Downstream Mohammed Yahya Al Qahtani on 18 November 2021. The signing ceremony took
place at the Saudi Arabia Pavilion at Dubai Expo 2020.

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11/22/21, 5:44 PM ONGC, Saudi Aramco sign feedstock & marketing MoU

Speaking on the occasion, Mr Kumar said: “This MoU further strengthens our bilateral energy relationship, which is
one of the cornerstones of the solid historical ties between India and Saudi Arabia. This collaboration will bolster
both companies’ capabilities, leveraging our respective in-house competencies while creating value for all
stakeholders and offering a framework for expanding the cooperation in other energy-related areas.”

Mohammed Yahya Al Qahtani said: “This ceremony is a testament to the strong and valuable relations between
our economies, our countries and our people. India is a strategic and significant market of the Kingdom and we
look forward to enhancing our synergies by providing mutually-beneficial opportunities through our global-scale
trading network and system with a competitive offering. We hope this will open more areas of collaboration in the
future to expand our global footprint.”

ONGC and its affiliates have a significant presence in exploration and production, domestic refining,
petrochemicals, power and renewables in India. ONGC Group has a diversified line of business such as pipelines,
LNG re-gasification terminals and a number of subsidiaries and joint ventures in energy-related businesses.

Saudi Aramco is a leading integrated energy and chemicals company engaged in oil exploration, production,
transportation, refining, logistics, power generation and marketing of crude oil, petroleum and petrochemical
products, with a strong network of affiliates and joint ventures.

Issued By:
Oil and Natural Gas Corporation Ltd
Corporate Communications, New Delhi,
Phone: +91-11-26754013
Mail: ongcdelhicc@ongc.co.in

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