January 20, 2017 11:39 PM ET

Chemicals

Company Overview of ONGC Petro additions Limited

Company Overview

ONGC Petro additions Limited produces and supplies petrochemical products in India. Its products include polymers, such as LLDPE, HDPE, and propylene; chemicals, such as benzene, ethylene, butadiene, CBFS, and pygas; grade slate products; pyrolysis gasoline; and grade slate chemicals. ONGC Petro additions Limited was founded in 2006 and is based in Vadodara, India.

1st Floor

Omkara Building

Near Sai Chowkdi

Manjalpur

Vadodara,  390011

India

Founded in 2006

Phone:

91 26 5619 2600

Fax:

91 26 5619 2666

Key Executives for ONGC Petro additions Limited

Chief Executive Officer
Chief Finance Officer
Head of Material Management
Head Polymer
Head Cracker
Compensation as of Fiscal Year 2016.

ONGC Petro additions Limited Key Developments

ONGC Petro In Talk To Sell Three Oil And Natural Gas

ONGC Petro additions Limited is in talks with local and overseas petrochemical companies to sell 25% of Three Oil and Natural Gas Corp. Ltd. One of the three ONGC officials said "We are in discussions with Public Sector Undertaking players as well as petrochemical players in the Middle East for taking up to a 25% stake in the project." But he declined to disclose the names of the companies that ONGC has approached for the stake sale. ONGC Spokesperson, in reply to an email said "OPaL is looking for a strategic investor for a portion of the balance untied equity who could bring value to the project." Two of the ONGC officials cited above, however, said Saudi Aramco is one of the companies ONGC is in talks with.

ONGC Petro-Additions Limited to Start Up New Benzene Unit in Second Quarter of 2016

ONGC Petro-Additions Limited announced that it is planning to start up their new benzene unit in Dahej at the end of the second quarter. The new benzene unit, with a production capacity of 150,000 tonnes/year, is expected to start up after the full commissioning of their cracker unit.

Talks With PIC Over ONGC Petro Remain Inconclusive

Oil and Natural Gas Corp. Ltd. (NSEI:ONGC) said the talks to sell stake in ONGC Petro-Additions Limited to Petrochemical Industries Company(PIC) remain inconclusive. PIC was in talks to buy at least 26% additions. "Discussion had been held with PIC, Kuwait for equity participation in OPaL project up to APril 2015. However, no recent developments on this front have taken place for the last two months and the discussion remain inconclusive as of date," ONGC said in a regulatory filing.

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Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

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