Dehradun|26th January, 2018 : 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 Mr 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.
Mr Misra was speaking in the capacity of officiating CMD, in place of Mr Shashi Shanker, who is representing India as part of a high level delegation at the World Economic Forum in Davos. “We are geared up to contribute in achieving Hon’ble Prime Minister’s vision of 10% reduction in energy imports by 2022”, 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.
Mr DD Misra, Director (HR) ONGC speaking during Republic Day Celebrations at ONGC Headquarters, Dehradun.
