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ONGC Videsh, Azerbaijan's SOCAR look to jointly sell oil

Reuters
The logo of SOCAR Energy Switzerland is seen on a filling station in Bern, Switzerland May 10, 2016. REUTERS/Ruben Sprich

NEW DELHI (Reuters) - ONGC Videsh has signed a preliminary agreement with the trading arm of Azerbaijan's state energy company SOCAR to look at jointly marketing crude oil, the company said in a statement on Tuesday.

OVL, the overseas assets acquisition arm of the country's biggest explorer, Oil and Natural Gas Corp (ONGC), wants to leverage the experience of SOCAR Trading SA in oil marketing, it said.

Reuters had reported about the deal on Monday.

(Reporting by Nidhi Verma; Editing by Subhranshu Sahu)