OPaL

India’s ONGC to Infuse INR 150 Billion into OPaL in Major Restructuring

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The State-owned Oil and Natural Gas Corporation (ONGC) is set to inject INR 150 billion into ONGC Petro-additions Ltd (OPaL) as part of a comprehensive financial restructuring initiative. This strategic move is expected to lead to the gradual exit of gas utility GAIL from the petrochemical firm, as reported by the news agency PTI. Presently, … Read more

ONGC Shelves Plan to Sell Stake in OPAL Petchem Complex

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Oil and Natural Gas Corp. (ONGC) has shelved its stake sale plans for ONGC Petro Additions Ltd (OPaL) unable to attract a strategic partner, Livemint reported. OPaL, a joint venture between ONGC (49.4%), GAIL (India) Ltd (49.2%) and Gujarat State Petroleum Corp. Ltd (1.4%), has set up a grass root mega petrochemical complex at Dahej, … Read more