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Exxon Mobil To Lend Expertise To India’s ONGC

By John F. Heerdink, Jr.

Reportedly, Global energy giant Exxon Mobil Corporation (XOM) is set to offer its expertise and technology to India’s state-owned explorer Oil and Natural Gas Corp Ltd (ONGC) and help establish its resources in the offshore block, as per sources. Both the parties are looking forward to jointly locate areas and submit bids for more prospective assets in India, informed Oil Minister Dharmendra Pradhan, India.

ONGC is currently preparing for deepwater oil and gas blocks in its eastern coast, which is expected to come onstream by 2020 and yield the highest 15 million gas standard cubic meters per day. The memorandum of understanding is yet to be signed and is awaiting Exxon to study the blocks of the company, as per sources.

Exxon Mobil Corporation (XOM) explores for and produces crude oil and natural gas in the United States, Canada/South America, Europe, Africa, Asia, and Australia/Oceania. It also manufactures and markets commodity petrochemicals, including olefins, aromatics, polyethylene, and polypropylene plastics, and specialty products; and transports and sells crude oil, natural gas, and petroleum products. To learn more about ExxonMobil Corporation (XOM) and to continue to track its progress please visit the Vista Partners ExxonMobil Corp. Page.

Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.

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(Read Original Story: Exxon Mobil, ONGC sign expertise-sharing deal in Reuters)


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