HPCL acquisition to make ONGC third largest refining company

DEHRADUN: The acquisition of 51.11% equity share of Government of India in HPCL is slated to make ONGC the third largest refining power in the country, said DD Misra, Director (HR), ONGC during the Republic Day celebrations at ONGC Corporate Headquarters, Dehradun.

With this, ONGC is set to become India’s first fully vertically integrated Energy Company with presence across the entire hydrocarbon value chain, he said.

The capacity increase from acquisition of HPCL would contribute to ONGC’s downstream kitty of MRPL, that registered its highest ever throughput of 16.57 MMT.

This combined with ONGC’s other value multiplier projects such as ONGC Petro additions Ltd (OPaL), ONGC Mangalore Petrochemicals Ltd (OMPL) and ONGC Tripura Power Company (OTPC) that are all fully operational, would consolidate ONGC’s presence in the downstream hydrocarbon sector.