OIL, BPCL ink CGD pact

Oil India Ltd (OIL) and Bharat Petroleum Corporation Ltd (BPCL) on Tuesday formalised a Joint Venture Agreement (JVA) at the BPCL Corporate Office to establish a Joint Venture Company (JVC). The agreement was signed in the presence of Dr. Ranjit Rath, Chairman & MD, OIL and Sanjay Khanna, Director (Refineries) with Additional Charge of Chairman & MD, BPCL. The JVC will create a city gas distribution (CGD) network in Arunachal Pradesh, which includes the establishment of Compressed Natural Gas (CNG) stations and the provision of Piped Natural Gas (PNG) to domestic, commercial, and industrial consumers.