Business · Companies · 3 hrs ago
MRPL, ONGC and OPaL form petrochemicals marketing venture
ONGC, MRPL and OPaL have set up a joint venture called ONGC Petrochemicals Marketing Limited, or OPML.
The companies are Indian energy businesses, and the new company was incorporated on October 7, 2026.
ONGC holds 50 per cent of OPML, while MRPL and OPaL each hold 25 per cent.
OPML will manage marketing and trading for the group’s petrochemicals, chemicals and related products, including pricing, distribution and customer management.
The venture brings these sales activities together with the group’s existing downstream and petrochemicals operations.
The Department of Investment and Public Asset Management approved the move before the Registrar of Companies issued the certificate of incorporation.
MRPL, ONGC and OPaL have formed a joint venture to market and trade petrochemicals and related products for the ONGC Group.
The new company, ONGC Petrochemicals Marketing Limited (OPML), was incorporated as a public limited company on October 7, 2026.
ONGC holds a 50 per cent stake, while MRPL and OPaL each hold 25 per cent.
OPML will oversee branding, pricing, distribution, logistics, customer management and sales planning.
- Who
- Mangalore Refinery and Petrochemicals Limited (MRPL), Oil and Natural Gas Corporation (ONGC), and ONGC Petro additions Limited (OPaL).
- What
- They formed OPML to handle integrated marketing and trading of petrochemicals, chemicals and related products for the ONGC Group.
- When
- OPML was incorporated on October 7, 2026.
- Where
- Not stated.
- Why
- To coordinate marketing and trading for the group’s downstream products and align with its existing downstream and petrochemicals operations.
This story does not have two clearly opposing sides.
The Department of Investment and Public Asset Management granted regulatory approvals before OPML’s incorporation.
The Registrar of Companies issued OPML’s Certificate of Incorporation.
MRPL disclosed OPML’s incorporation to stock exchanges.
- Company
- ONGC Petrochemicals Marketing Limited (OPML)
- Incorporation date
- October 7, 2026
- Promoter stakes
- ONGC 50%; MRPL 25%; OPaL 25%
- Authorised and subscribed share capital
- ₹50 crore
- MRPL subscription
- ₹12.5 crore for 1,25,00,000 equity shares