The State Oil Company of the Azerbaijan Republic (SOCAR), Oil & Natural Gas Corporation (ONGC), and Mangalore Refinery & Petrochemicals Limited (MRPL) have signed a Tripartite Memorandum of Understanding (MoU) at India Energy Week (IEW) 2025 in New Delhi.
This strategic agreement aims to enhance energy trade and cooperation between SOCAR and ONGC Group entities through the mutual supply of crude oil, LNG, and petroleum products. The MoU provides a structured framework for engagement, enabling effective discussions, knowledge sharing, and exploration of energy trade opportunities.
The collaboration will focus on supply chain optimization, commercial sustainability, and operational efficiency. By assessing and implementing viable projects, the three entities aim to strengthen their presence in the global energy market.
Importantly, the MoU follows a non-binding cooperation model, ensuring that each party remains independently responsible for its commitments. This flexibility fosters long-term strategic alignment, paving the way for stronger energy partnerships between India and Azerbaijan.
