ONGC shifts to energy transition with oil-to-chemical plants

08 Aug 2023 CW Team

Petrochemicals, being chemical derivatives of crude oil, play a pivotal role in producing items like detergents, synthetic fibres (such as polyester, nylon, acrylic), polyethylene, and various other synthetic plastics.

According to Singh's statement within the company's most recent annual report, "The demand for petrochemicals is anticipated to remain robust and will retain its status as a prime catalyst for oil and gas demand in the foreseeable future." He further elaborated that ONGC is actively collaborating with other entities to explore potential prospects in the realms of oil-to-chemical (O2C) ventures, refining, and petrochemicals. Additionally, ONGC is strategically planning to establish two new O2C facilities from scratch within India.

Currently, the company boasts two subsidiary firms—Mangalore Refinery and Petrochemicals, as well as ONGC Petro-Additions Limited—both of which operate petrochemical units in Karnataka's Mangalore and Gujarat's Dahej, respectively.

"In line with our diversification strategy, MRPL and OPaL are deeply committed to the petrochemical sector," outlined Oil and Natural Gas Corporation (ONGC) within its annual report for the fiscal year 2022-23. The report also highlighted that ONGC is engaged in collaborations with industry players to unearth opportunities within the Oil to Chemical (O2C) and Oil to Petrochemicals (O2P) domains.

Also read:
Oil India upgrades to Maharatna, ONGC Videsh to Navratna
Essar Oil & Gas to Strengthen Ranigunj CBM Position

India's leading oil and gas producer, ONGC, has expressed intentions to establish two oil-to-chemical plants within the country, converting raw crude oil into high-value chemical products. This strategic move comes in response to the global energy transition that is reshaping the entire industry landscape, as stated by Arun Kumar Singh, the chairman. Singh indicated that crude oil, a crucial energy source, is extracted by entities such as ONGC from beneath the seafloor and subterranean reservoirs. Typically processed in oil refineries, it undergoes conversion to yield gasoline, diesel, and aviation fuel. However, given the global shift towards cleaner energy sources, there's a collective industry pursuit of innovative ways to utilise crude oil more sustainably. Petrochemicals, being chemical derivatives of crude oil, play a pivotal role in producing items like detergents, synthetic fibres (such as polyester, nylon, acrylic), polyethylene, and various other synthetic plastics. According to Singh's statement within the company's most recent annual report, The demand for petrochemicals is anticipated to remain robust and will retain its status as a prime catalyst for oil and gas demand in the foreseeable future. He further elaborated that ONGC is actively collaborating with other entities to explore potential prospects in the realms of oil-to-chemical (O2C) ventures, refining, and petrochemicals. Additionally, ONGC is strategically planning to establish two new O2C facilities from scratch within India. Currently, the company boasts two subsidiary firms—Mangalore Refinery and Petrochemicals, as well as ONGC Petro-Additions Limited—both of which operate petrochemical units in Karnataka's Mangalore and Gujarat's Dahej, respectively. In line with our diversification strategy, MRPL and OPaL are deeply committed to the petrochemical sector, outlined Oil and Natural Gas Corporation (ONGC) within its annual report for the fiscal year 2022-23. The report also highlighted that ONGC is engaged in collaborations with industry players to unearth opportunities within the Oil to Chemical (O2C) and Oil to Petrochemicals (O2P) domains. Also read: Oil India upgrades to Maharatna, ONGC Videsh to Navratna Essar Oil & Gas to Strengthen Ranigunj CBM Position

Resources

13 May 2026

Anant Raj Appoints Anish Sarin as Director

Anant Raj has appointed Anish Sarin as Director on its Board, marking a key step in the company’s leadership transition and long-term growth strategy. The announcement was made during the company’s Q4 and FY26 results declaration, reflecting the induction of next-generation leadership as the company expands across real estate, cloud infrastructure and data centre businesses. Anish Sarin, grandson of veteran industrialist Ashok Sarin, represents the emerging leadership at Anant Raj. Educated at Regent’s University London, he brings a global business outlook along with a strong focus on t..

Technology

13 May 2026

Vedanta eyes AI-led value growth

Vedanta Group expects to unlock USD 300–400 million in additional value over the next three years through large-scale deployment of AI-led industrial technologies across its businesses. The group said its V-Spark DeepTech Ventures platform has already delivered nearly four times return on investment since inception.Vedanta is scaling AI, predictive analytics, Industrial Internet of Things, digital twins, machine learning, automation and connected manufacturing technologies across its metals, mining, energy and industrial operations. These deployments are aimed at improving productivity, lowe..

Infrastructure Urban

13 May 2026

Hindustan Zinc inks pact with Group Nirmal

Hindustan Zinc has signed an MoU with Group Nirmal to set up a zinc wire manufacturing facility at its Zinc Industrial Park in Khankhala, Bhilwara district, Rajasthan. The partnership will expand downstream manufacturing activity and support value-added zinc applications in India.Under the agreement, Group Nirmal will manufacture zinc wire products using Hindustan Zinc’s Special High Grade zinc. The products will cater to infrastructure, renewable energy, automotive and industrial engineering sectors.Zinc wire is used in thermal spray coating and metallising processes to protect steel struct..