Oil and Natural Gas Corporation Limited (ONGC) has signed a strategic heads of agreement with Japan’s Mitsui O.S.K. Lines Ltd (MOL) on Thursday, July 3, to collaborate in building, owning, and operating two very large ethane carriers (VLECs). This proposed partnership reflects a shared commitment to bolster India’s petrochemical supply chain and enhance global cooperation in the energy transport sector.
The VLECs will be used to ship imported ethane — a critical feedstock for petrochemical production — from international markets to ONGC Petro Additions Limited (OPaL), ONGC’s dedicated downstream subsidiary located in Dahej, Gujarat.
Ethane is used in the production of ethylene, a key input for plastics, synthetic fibres, and chemicals, making this collaboration significant for domestic manufacturing and industrial development.
ONGC sets up permanent disaster-response hub for Amarnath Yatra
In an additional development, ONGC has set up a permanent Disaster Management and Yatri Niwas complex in Baltal, Ganderbal district, to support pilgrims undertaking the Amarnath Yatra. The complex, which spans 6,315 square metres, includes accommodation facilities, VIP guest houses, security infrastructure, and emergency response provisions.
The Baltal centre is part of ONGC’s broader CSR initiative to develop similar complexes at four key locations across Jammu and Kashmir — Baltal, Nunwan, Bijbehara, and Sidhra. The Baltal facility will be formally inaugurated on July 4 by Union Minister Hardeep Singh Puri and Lieutenant Governor Manoj Sinha, alongside ONGC Chairman and CEO Arun Kumar Singh.
Shares of ONGC settled 1.18% higher at ₹244 on the BSE today (July 3).
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