ONGC Petro Additions Ltd.
ONGC Petro Additions Ltd.
ONGC to invest Rs one lakh cr for Petrochem capacity expansion
April 26, 2023
The Oil and Natural Gas Corporation (ONGC) is planning to invest Rs one lakh crore by 2030
towards expansion of its petrochemicals manufacturing capacity. This will include setting up new
facilities to produce chemicals directly from crude. With this, the combined petrochemicals
capacity of MRPL and OPaL is targeted to reach more than double to eight million tpa by 2030.
Under the expansion plan, two mega projects, one each on the eastern and the western coast, will
be set up, wherein the facilities will either directly use crude to produce chemicals or take other
feedstocks. The crude produced in the country by ONGC could also be utilised as feedstock for
its crude-to-chemical facility. ONGC's plans are likely to be implemented by its subsidiary,
Mangalore Refinery and Petrochemicals (MRPL), and its joint venture (JV) ONGC Petro
additions (OPaL). The petrochemical segment has wider applications, and it is expected that its
usage may last longer than regular transportation fuels.
Further, the move is aligned to the government’s thrust to propel India to become a major
petrochemical hub in the world.
Mangalore Refinery and Petrochemicals Limited receives patent for process distillation
October 08, 2020
The Mangalore Refinery and Petrochemicals Limited (MRPL NSE -2.92 %) has been awarded a patent on process distillation of petroleum fractions by making use of fuel gas-hydrocarbon vapours instead of steam.
India’s OMPL offers benzene for 2020
January 02, 2020
Indian petrochemical producer, OMPL Mangalore Petrochemicals has offered up to 54,000t of benzene to overseas buyers through a tender issued today.
ONGC shelves plan to sell stake in OPaL
November 28, 2019
Unable to attract a strategic partner for ONGC Petro Additions Ltd (OPaL), Oil and Natural Gas Corp. has shelved its stake sale plans for the petrochemical unit, said two people aware of the development, requesting anonymity.
ONGC considers buying out rest of petrochemical project
September 06, 2019
India's Oil and Natural Gas Corp Ltd plans to buy out the rest of a western Indian petrochemical project it does not already own and launch a public offering if it fails to find a strategic partner for it, its head of finance said on September 11.
ONGC seeks shareholder nod to help OPAL raise ₹2,680 cr
August 06, 2019
The board of Oil and Natural Gas Corporation (ONGC) has offered to help ONGC Petro Additions Ltd (OPAL) raise debt resources of ₹2,680 crore.
ONGC may buy CCDs of its unit
June 23, 2019
Oil and Natural Gas Corp. Ltd (ONGC) may buy ₹5,615 crore worth of compulsorily convertible debentures (CCDs) of ONGC Petro additions Ltd (OPaL) after failing to find an equity investor for its petrochemicals arm, said two people directly aware of the matter.
India’s Opal shuts PP unit: Update
May 07, 2019
Indian state-controlled petrochemical producer ONGC Petro Additions (Opal) shut its 340,000 t/yr polypropylene (PP) unit earlier this week because of a technical issue.
‘Buy’ ONGC shares, OPaL’s prospects make for a positive
April 02, 2019
The company is in process of converting its INR loans to USD, as it can provide a natural hedge against its exports, resulting in savings of Rs 2 bn.
OPAL to raise Rs 30 billion for debt repayment, capital expenditure
December 15, 2018
Having successfully mopped up Rs 3.35 billion through its maiden issuance of listed non-convertible debentures (NCDs), ONGC Petro additions Limited (OPaL) is looking to raise another Rs 26.5 billion in one year.