INDIAN OIL CORPORATION LTD. - Indian Oil Corporation Ltd reply to clarification sought by the exchange

The Exchange had sought clarification from Indian Oil Corporation Ltd with respect to news article appearing in Financial Express on May 14, 2015 titled "IOC, Gail ink MoU with Dhamra LNG Terminal."<BR><BR>Indian Oil Corporation Ltd replied stating "We would like to clarify as under :-<BR>IndianOil and Dhamra LNG Terminal Private Limited (DLTPL) had entered into a non-binding MoU on 15.04.2015. The MoU is only an intension to discuss, negotiate and finalise for booking of 3 MMTPA re-gasification capacity proposed to be built by DLTPL. After due diligence and finalizing all the terms & conditions, the parties would enter into a definitive agreement with the approval of the Board of IndianOil. Once the parties enter into a definitive agreement, the Stock Exchanges would be duly notified."