IOC to cooperate in refinery and petrochem ventures with Sinopec and Sinochem

18-Dec-06

At the Ministerial Round table of Energy Ministers of India, US, China, Japan and Korea in Beijing, Indian Oil Corp Ltd. (IOC) and China's Sinopec have signed a Memorandum of Understanding (MoU) for cooperation in refinery and petrochemicals. Other areas of cooperation include international trade, E&P activities, engineering & technical services, exchange of knowledge in operations, refinery optimisation and training. IOC and Sinochem have also agreed to expand cooperation to include collaboration in the areas of overseas E&P activities, petrochemicals, chemicals, etc.