ONGC Invests ₹25 Crore In New Petrochemicals Venture, Forms ₹50 Crore Joint Company With MRPL And OPaL
· Free Press Journal
Mumbai: State-owned Oil and Natural Gas Corporation (ONGC) has announced the incorporation of ONGC Petrochemicals Marketing Limited (OPML), a new joint venture aimed at strengthening the group's petrochemicals marketing and trading business.
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The company was incorporated on October 7, 2026, as a public limited company, ONGC informed stock exchanges on Thursday.
Rs 50 Crore Joint Venture
The newly formed company has an authorised and subscribed share capital of Rs 50 crore, divided into five crore equity shares with a face value of Rs 10 each.
ONGC holds a 50 percent stake, while Mangalore Refinery and Petrochemicals Limited (MRPL) and ONGC Petro additions Limited (OPaL) own 25 percent each.
ONGC and its nominee shareholders have invested Rs 25 crore to acquire 2.5 crore equity shares.
The shares were subscribed at face value, with the transaction conducted on an arm's-length basis.
Focus On Integrated Marketing
The joint venture will create a single platform for marketing and trading petrochemicals, chemicals and related products across the ONGC Group.
Its operations will cover branding, business development, pricing, distribution, logistics, customer management and sourcing.
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The integrated structure is intended to bring different marketing functions under one company.
Regulatory Approvals Secured
ONGC said the Department of Investment and Public Asset Management, under the Ministry of Finance, had approved the joint venture.
The Registrar of Companies subsequently issued the certificate of incorporation on October 7.
ONGC Spuds First Deepwater Well in Mahanadi Basin under Samudra Manthan MissionONGC had earlier informed exchanges about the proposed joint venture on April 25, 2026.
No Revenue History Yet
As OPML is newly incorporated, it has no operating turnover or financial track record.
The venture marks another step in ONGC's efforts to strengthen its existing downstream operations through a dedicated marketing and trading platform.
Disclaimer: This article is based on ONGC's October 8, 2026, stock exchange filing. Information is provided for general informational purposes only.