India's state-run ONGC will sign a memorandum of understanding with ConocoPhillips (COP) today...


India's state-run ONGC will sign a memorandum of understanding with ConocoPhillips (COP) today on the exploration and development of shale-gas reserves and deep-water oil and gas blocks. The memorandum won't yet carry any financial commitments, but could eventually result in ONGC offering equity stakes in some of its India blocks to COP.
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