ONGC Establishes Petrochemicals Marketing JV, Subscribes ₹25 Crore For 50% Stake
Mumbai: Oil and Natural Gas Corporation (ONGC) announced on Wednesday the incorporation of ONGC Petrochemicals Marketing Limited (OPML) as a public limited company on 7 October 2026. ONGC has acquired a 50 per cent equity share capital in OPML, amounting to 2,50,00,000 equity shares of ₹10 each, for a total consideration of ₹25 crore. Joint Venture Structure OPML is a joint venture company with…
Mumbai, October 7, 2026 - Oil and Natural Gas Corporation (ONGC) has established a joint venture company, ONGC Petrochemicals Marketing Limited (OPML), to operate in the petrochemicals marketing and trading sector. ONGC has acquired a 50% equity stake in OPML for ₹25 crore, equal to 2.5 million equity shares of ₹10 each. The remaining 50% is shared between Mangalore Refinery and Petrochemicals Limited (25%) and ONGC Petro additions Limited (25%).
OPML's primary focus will be on integrated marketing, trading, and distribution of petrochemicals, chemicals, and related products for the ONGC Group. The entity aims to create a unified platform for branding, business development, pricing, logistics, customer management, and sales planning. ONGC obtained the necessary regulatory approvals, including a Certificate of Incorporation from the Registrar of Companies, for the formation of OPML, which was registered in India on October 7, 2026.
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