During India Energy Week (IEW) 2025, a Tripartite Memorandum of Understanding (MoU) was signed between the State Oil Company of the Azerbaijan Republic (SOCAR), Oil & Natural Gas Corporation (ONGC), and Mangalore Refinery & Petrochemicals Limited (MRPL) to enhance energy collaboration.
In a filing to the exchanges, Mangalore Refinery and Petrochemicals Limited explained that this strategic MoU aims to foster energy cooperation through the mutual supply and trade of crude oil, LNG, and petroleum products between SOCAR and ONGC Group companies.
The MoU sets up a well-structured platform for engagement, enabling detailed discussions, the exchange of information, and the exploration of energy trade opportunities. It also provides the foundation for evaluating and implementing viable projects, alongside optimizing supply chain strategies to ensure commercial sustainability and operational efficiency, as outlined in the filing.
The filing further emphasized that the MoU allows each party to independently fulfill its commitments, with the cooperation model being flexible and non-binding, designed to nurture long-term synergy and strategic alignment in the global energy sector.
India Energy Week was conceived as a platform to go beyond a typical industry conference, aiming to redefine global energy conversations. In just two years, this self-funded initiative has grown to become the world’s second-largest energy event. The third edition, which concluded on February 14, 2025, at Yashobhoomi in New Delhi, marked a significant achievement in shaping the global energy discourse.
