Petroleum minister Dharmendra Pradhan on Monday hinted at the consolidation of all the downstream units of Oil and Natural Gas Corporation (ONGC), post its acquisition of Hindustan Petroleum Corporation (HPCL) which will be an integrated refinery-cum-petrochemical vertical.
This vertical is likely to include HPCL, along with Mangalore Refineries and Petrochemicals (MRPL), ONGC Mangalore Petrochemicals (OMPL), ONGC Petro-additions Ltd (OPaL) under one umbrella. According to minister.“The roadmap of these companies will be decided by the respective boards. Petrochemical has become a big component of both the companies. I think, if they want there can be an integrated refinery and petrochemical vertical – including HPCL, MRPL, OMPL, OPaL and similar projects," Pradhan said addressing a press conference in Delhi. He added that the governance model of HPCL will continue to be the same post the deal by remaining a Central Public Sector Enterprise.
