ONGC shifts to energy transition with oil-to-chemical plants
OIL & GAS

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

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


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

Next Story
Resources

Madhya Pradesh Champions Inclusive Tourism at Heritage Sites

On the occasion of World Heritage Day, Madhya Pradesh is taking a significant step toward inclusive tourism by making its historical sites accessible to all — especially persons with disabilities. The state is rolling out its ‘Accessibility Infrastructure and Development’ project at Maheshwar, Mandu, Dhar, and Orchha, aiming to create a more welcoming experience at these iconic cultural destinations.The initiative, under the leadership of Chief Minister Dr Mohan Yadav and Tourism Minister Shri Dharmendra Bhav Singh Lodhi, includes infrastructure upgrades such as ramps, Braille signage, w..

Next Story
Resources

Runwal Realty Onboards Sonam Kapoor as Brand Ambassador

Real estate major Runwal has unveiled a refreshed identity as Runwal Realty, signalling a renewed commitment to crafting spaces that stand the test of time. With this refresh, the brand unveils its new philosophy: “Building for Generations to Come” and welcomes Bollywood star and global fashion icon Sonam Kapoor as its brand ambassador. This evolved identity reflects Runwal Realty’s commitment to creating not just homes, but heirlooms—crafted through visionary design, meticulous planning, global design expertise and an unwavering focus on quality. With the customer at its core, each de..

Next Story
Infrastructure Urban

Emerging Trends in Infrastructure and Transport 2025: KPMG

KPMG’s latest report, The Great Reset: Emerging Trends in Infrastructure and Transport 2025 edition, sheds light on the profound changes transforming the global infrastructure landscape. As industries adapt to the challenges posed by climate change, economic pressures, and technological advancements, the report identifies key trends and provides actionable insights for leaders in infrastructure and transport sectors. “In today’s interconnected world, the lack of standardized supply chain practices is not just an operational challenge—it’s an environmental and economic one. We’..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?