ONGC is in talks with Shell India, the only foreign player in India’s fuel retailing space, for a possible tie-up with itself or MRPL, its subsidiary in the retail segment that also has a registered brand. Besides, ONGC and Shell were also doing due diligence for the Nagarjuna refinery, ONGC CMD Sudhir Vasudeva told Business Standard. ONGC and Shell are also looking at a collaboration in deep-water exploration and production. The deal is being discussed by different teams of the two companies, but when it actually happens, it could be the second such tie-up between an Indian company and a multinational oil major. This collaboration will bring in yet another business opportunity for the signage companies dealing in display and branding items in this sector.
