Archive · 30 Jan 2026
ONGC Plans Stake Sale in OPaL
ONGC, a big Indian oil company, owns most of a petrochemicals company called OPaL.
They want to sell some of their share in OPaL to other companies.
They have to do this by 2030.
OPaL makes a lot of polymers and chemicals in Gujarat.
ONGC has invested a lot of money in OPaL to make it more profitable.
They might also list OPaL on the stock market if they can't find a partner.
They are also making plans to get ethane from other sources because Qatar is stopping exports soon.
ONGC plans to sell a stake in OPaL, its petrochemicals arm, through an Expression of Interest (EoI).
ONGC holds a 95.69% stake in OPaL, with Gail India and Gujarat State Petroleum Corporation holding the remaining shares.
The company aims to dilute its stake by 2030 and restore OPaL to a joint venture structure.
ONGC has invested ₹18,365 crore in OPaL and is considering listing it if a strategic partner is not found.
OPaL is a large petrochemical complex in Dahej, Gujarat, with significant production capacities for polymers and chemicals.
- Who
- ONGC, Gail India, Gujarat State Petroleum Corporation
- What
- ONGC plans to sell a stake in OPaL, its petrochemical subsidiary
- When
- Expression of Interest (EoI) to be issued soon; strategic partner to be brought in by FY27
- Where
- OPaL is located in Dahej, Gujarat
- Why
- ONGC has a mandate to dilute its stake by 2030 and restore the company to a joint venture structure
- ONGC's stake in OPaL
- 95.69%
- Gail India's stake in OPaL
- 4%
- Gujarat State Petroleum Corporation's stake in OPaL
- 0.31%
- ONGC's investment in OPaL (FY25)
- ₹18,365 crore
- OPaL's polymer production capacity
- 14 lakh tonnes
- OPaL's chemical production capacity
- 5 lakh tonnes
- OPaL's location
- Dahej, Gujarat
- OPaL's FY25 revenue
- ₹14,804 crore
