State-owned Oil and Natural Gas Corporation will draw a new perspective plan to integrate recent acquisition HPCL and just commissioned petrochemical unit with its mainstay oil and gas exploration and production operations, its Chairman and MD Shashi Shanker said.
The nation’s largest oil and natural gas producer is keen that its recent diversification into refining business as also petrochemicals is leveraged to full by integrating them with its core business.
“Post-acquisition of Hindustan Petroleum Corporation Ltd (HPCL) and commissioning of OPaL petrochemical plant at Dahej (in Gujarat), the company is drawing up a perspective plan to achieve proper synergies from the integration to maximize value, optimize cost and enhance efficiency,” Shanker said.
Synergies like the use of naphtha and other liquid hydrocarbons ONGC produces in the petrochemical unit set up by ONGC Petro-additions Ltd to produce value-added products as well as integrating refining stream of HPCL with company’s existing subsidiary, Mangalore Refinery and Petrochemicals Ltd can result in huge opportunities, he said. Read More