Industry

Reliance Industries to work with Mexico’s Petroleos

Reliance Industries Ltd (RIL) has signed a memorandum of understanding (MOU) with Mexico’s state-owned company Petroleos Mexicanos (PEMEX) to explore opportunities in upstream oil and gas sector in Mexico and jointly evaluate value added opportunities in international markets.

RIL and PEMEX will also share expertise and skills in relevant areas of oil and gas industry, including for deep-water oil and gas exploration and production, RIL said in a statement.

“The MOU envisages sharing of RIL’s pioneering expertise in deep-water development and best practices in the East Coast of India and RIL’s experience in shale gas in the United States,” the statement added.

RIL said it would provide technical support and share experience with PEMEX for maximisation of refining value and other technical optimisation strategies. This co-operation agreement with PEMEX is in line with RIL’s growth strategy to explore opportunities internationally. RIL shares, on Friday, closed with a loss of 0.09 per cent at Rs.957.70 on the BSE.

A letter from the Editor


Dear reader,

We have been keeping you up-to-date with information on the developments in India and the world that have a bearing on our health and wellbeing, our lives and livelihoods, during these difficult times. To enable wide dissemination of news that is in public interest, we have increased the number of articles that can be read free, and extended free trial periods. However, we have a request for those who can afford to subscribe: please do. As we fight disinformation and misinformation, and keep apace with the happenings, we need to commit greater resources to news gathering operations. We promise to deliver quality journalism that stays away from vested interest and political propaganda.

Support Quality Journalism
Recommended for you
This article is closed for comments.
Please Email the Editor

Printable version | May 29, 2020 8:33:26 PM | https://www.thehindu.com/business/Industry/reliance-industries-to-work-with-mexicos-petroleos/article6665654.ece

Next Story