Royal Dutch Shell will sign a broad agreement with India's Oil and Natural Gas Corp. (ONGC.) for potential joint operations in India and abroad. Shell's agreement with ONGC will encompass joint construction of oil refineries, petrochemical plants, product terminals and depots, the establishment of a bitumen business as well as deals on supplies of oil products, marine fuels and lubricants. The memorandum of understanding has an extremely broad horizon that spans upstream and products for which ONGC will provide the opportunity, Shell the expertise.
Earlier this year, Shell and Kuwait Petroleum International (KPI) agreed to team up to pursue downstream investments in China and India. However, this fizzled out as Kuwait went ahead by itself in a December deal with PetroChina to build a new US$5 billion refinery in Guangdong province.
Indian, eager to ward off competition from their more successful Chinese rivals in the race to secure global reserves for their vast and growing economies, have recently signed wide-ranging cooperation agreements in Beijing, including one between ONGC and China National Petroleum Corp
19-Jan-06 
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