The state-owned Oil and Natural Gas Corporation (ONGC) has unveiled a significant financial restructuring plan for its subsidiary, ONGC Petro-additions Ltd (OPaL), involving an infusion of approximately Rs 15,000 crore. The move is poised to reshape the ownership structure, resulting in gas utility GAIL (India) Ltd being edged out of the petrochemical firm. Presently, ONGC […]
Hindustan Petroleum Corporation (HPCL), which is enhancing its footprints in the natural gas market, on Monday said it has secured a major long-term contract from ONGC Petro additions Ltd (OPaL) for the supply of natural gas. HPCL will supply natural gas to ONGC Petro additions Ltd’s petrochemical complex at Dahej in Gujarat. OPaL, a joint […]
State-owned oil firm ONGC Videsh (OVL) got a new potential acquisition partner in Oil India for a 50 per cent stake in Tullow Oil Plc, a USD 3.4 billion oilfield project in Kenya, according to a media report on Monday. It said the new partnership will replace a reluctant Indian Oil (IOC) union with ONGC […]
