IOCL inks MoU with Oil Regulator of Ghana

To further strengthen the bilateral relationship between India and West African country, Ghana,  a Memorandum of Understanding (MoU) was inked between the Indian Oil Corporation Ltd (IOCL) and National Petroleum Authority (NPA) of Ghana on Wednesday, 22^nd January 2020, under which IOCL will have the administrative assistance for commercial participation in the gas-rich petroleum sector of Ghana and will also be able to expand  India’s Liquefied petroleum gas (LPG) network.

Indian Oil will provide assistance and share its technical expertise with the Petroleum authorities of the African country to implement the National LPG Promotion Policy of Ghana. The announcement was made by the Ministry of Petroleum and natural gas. Indian Oil is also expected to assist Ghana in areas of infrastructure development for the new LPG Value chain. India over the last decade has completed some big projects in Africa that include the Presidential Office constructed in Ghana, and has also become a development partner of multiple African countries as the Union Government has sanctioned Line of Credit (LOC) assistance to multiple African countries for the last couple of years.

Month: Current Affairs - January, 2020