Formal talks likely between ONGC Petro Additions Ltd and Saudi Aramco for collaboration


ONGC Petro additions Ltd (OPaL) is seeking to sell 50% stake in its US$4.6 bln facility, likely  to Saudi Aramco, as per sources in, after talks with a unit of Kuwait Petroleum Corp. about investing in the project stalled last year.
Oil & Natural Gas Corp. (ONGC), which owns the biggest stake in OPaL, entered into a preliminary cooperation agreement in January 2014 with Petrochemical Industries Co., a subsidiary of state-owned Kuwait Petroleum. Talks between OPaL and PIC about the Kuwaiti company investing in the Indian project stalled last year, according to the people. OPaL hosted a team from Saudi Aramco at its plant in Gujarat last month, they said.

Saudi Aramco, which is the biggest supplier of crude oil to India, has shown interest in a proposed 60 million tonnes-a-year refinery and petrochemicals project being planned by Indian state refiners on the nation’s west coast, oil minister Dharmendra Pradhan said on 30 March.

  Back to News Archive


There are no comments to display. Be the first one to comment!


Name Required.


Email Id Required.

Email Id Not Valid.


Mobile Required.

Email ID and Mobile Number are kept private and will not be shown publicly.

Message Required.

Click to Change image  Refresh Captcha
{{comment.Name}} made a post.