Oct. 14, 2019
ExxonMobil expands LNG collaborations in India: Allies with IndianOil to explore growth opportunities
New Delhi: ExxonMobil India LNG Limited, an affiliate of ExxonMobil, today signed a Memorandum of Understanding (MoU) with Indian Oil Corporation Ltd. (IndianOil), the largest state-owned oil refining & marketing company in India, further expanding its LNG business initiatives in the country.
Oct. 14, 2019
- Collaboration to explore ways to accelerate India’s access to cost-effective natural gas
- Companies to evaluate scalability for future business opportunities
- Builds on the long history of productive cooperation between ExxonMobil and IndianOil
This initiative focuses on exploring new models of delivering cost-effective natural gas in India where it is most needed to complement traditional pipelines. The MoU builds on the long history of productive cooperation between IndianOil and ExxonMobil in the LNG space.
“What really matters is how we accelerate India’s access to affordable, cleaner energy,” said Bill Davis, Lead Country Manager, South Asia, ExxonMobil. “We see great potential here, and are delighted to join forces with IndianOil to unlock lasting value for India,” he added.
IndianOil is India’s largest state-owned downstream petroleum company by earnings. Its core businesses are refining, transportation and marketing of petroleum products. Over the years, IndianOil has expanded its role as a leader in downstream gas marketing in India.
ExxonMobil has pioneered India’s LNG market and has been delivering natural gas to the country for nearly two decades. ExxonMobil and IndianOil’s combined capabilities have the potential to create exciting opportunities to fulfill India’s growing demand for cleaner energy by making natural gas more accessible and affordable.
ExxonMobil, the largest publicly traded international oil and gas company, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world. For more information, visit www.exxonmobil.com or follow us on Twitter at www.twitter.com/exxonmobil.
Exxon Mobil Corporation has numerous affiliates, many with names that include ExxonMobil. For convenience and simplicity, the term “ExxonMobil” is sometimes used as an abbreviated reference to specific affiliates or affiliate groups.
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