ONGC may sign deal for Iran projects in April

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New Delhi, March 27: According to reports Oil and Natural Gas Corporation or ONGC may sign a deal for Iran projects in April. Iran is drawing interest from Indian and Chinese firms that are keen to tap the world"s second-largest reserves of oil and gas and are less susceptible than many other companies to Western pressure over Tehran"s nuclear programme.

Reportedly In early January, ONGC had offered Iranian firms an equity stake in its proposed refinery and a liquefied natural gas terminal in southern India. ONGC plans to build a 300,000 barrel-a-day refinery in Andhra Pradesh state, and a 7.5 million tonnes-a-year LNG terminal in Karnataka state.

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