New Delhi, Feb. 15 -- A significant trilateral agreement in the energy sector was established during India Energy Week 2025 as the State Oil Company of Azerbaijan Republic (SOCAR), Mangalore Refinery and Petrochemicals Limited (MRPL), and Oil and Natural Gas Corporation Limited (ONGC) formalised their collaboration through a non-binding Memorandum of Understanding (MoU) on February 12, 2025.

The comprehensive agreement encompasses several strategic areas of cooperation, focusing primarily on crude oil and liquefied natural gas supply chains, petroleum product trading operations, and knowledge exchange initiatives for capacity development.

A key component of this partnership involves strengthening ONGC's presence in Azerbaijan's oil and ...