Indian Oil Corporation said Friday that it is expanding its joint venture with Malaysian state-backed energy company Petronas to include building liquefied natural gas (LNG) terminals, as well fuel retailing and gas distribution in India. Liquefied petroleum gas (LPG) is already imported by Indian Oil under an equal joint venture with Petronas called IndianOil Petronas.
India’s liquefied natural gas (LNG) importers are asking suppliers to defer deliveries as measures to curb the spread of the Covid-19 virus have cut demand for the fuel.
Japan’s Japex will sell its 10% stake in a Canadian shale gas project to Malaysia’s Petronas amid concerns over profitability and its carbon footprint.
