ONGC Approves JV with MRPL and OPaL to Integrate Petrochemicals Marketing Operations
In April 2026, Oil and Natural Gas Corporation Limited (ONGC), under the Ministry of Petroleum and Natural Gas (MoPNG), approved the formation of a Joint Venture (JV) with its subsidiaries Mangalore Refinery and Petrochemicals Limited (MRPL) and ONGC Petro additions Limited (OPaL) for integrated petrochemicals marketing and trading.
In April 2026, Oil and Natural Gas Corporation Limited (ONGC), under the Ministry of Petroleum and Natural Gas (MoPNG), approved the formation of a Joint Venture (JV) with its subsidiaries Mangalore Refinery and Petrochemicals Limited (MRPL) and ONGC Petro additions Limited (OPaL) for integrated petrochemicals marketing and trading.
- The proposal is subject to approval from the Department of Investment and Public Asset Management (DIPAM) under the Ministry of Finance (MoF).
About ONGC Petrochemical JV:
Structure: The shareholding comprises ONGC (50%, Rs.25 crore), MRPL (25%, Rs.12.5 crore), and OPaL (25%, to be confirmed), creating a unified group-level platform.
Operational Integration: The joint venture integrates petrochemical marketing operations of ONGC group companies to enhance efficiency, optimise supply chains, and reduce costs through economies of scale.
Market & Margin Growth:
It improves margins through better pricing, grade optimisation, and revenue realisation, while focusing on specialty petrochemical grades and expanding third-party sales.
Support: The JV supports import substitution, strengthens domestic capacity, aligns with Atmanirbhar Bharat, positions ONGC as an integrated energy major.
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