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Business Standard

ONGC gets director to spearhead new energy, petrochem business & strategy

Oil and Natural Gas Corporation (ONGC) has got a new director to spearhead its new energy, petrochemicals and corporate strategy as part of a board revamp aimed at breathing fresh life into the state-controlled behemoth. Arunangshu Sarkar has been appointed as Director for strategy and corporate affairs, ONGC said in a stock exchange filing. Before the elevation, Sarkar, a petroleum engineer from the Indian School of Mines, Dhanbad, was Group General Manager (Production) at ONGC. He had previously worked as General Manager (Strategy & Corporate Planning), ONGC Videsh Ltd - the overseas investment arm of ONGC. Two years back, the board of ONGC was reorganised. Besides creating the new post of Director (Strategy & Corporate Affairs), the post of Director (Production) was created after merging Director (Onshore), who is in charge of all oil and gas fields located on land, and Director (Offshore) who looks after all offshore assets, such as the prime Mumbai High fields. In ...

The Economic Times

ONGC gets director to spearhead new energy, petrochem business

ONGC has appointed Arunangshu Sarkar as Director for strategy and corporate affairs in a board revamp aimed at revitalizing the company. Sarkar, previously Group General Manager (Production), will oversee joint ventures, downstream petrochemicals, new energy, corporate strategy, marketing, and legal. The restructuring follows McKinsey's Organisation Transformation Project recommendations.

The Economic Times

Govt appoints Arunangshu Sarkar as ONGC's first Director (Strategy)

The government has appointed Arunangshu Sarkar as the first director (strategy and corporate affairs) on the ONGC board. This move is part of a broader restructuring effort to revitalize the organization. Sarkar will oversee strategy, business development, joint ventures, new energy, petrochemicals, marketing, and IT functions at ONGC.

Business Standard

New liner service to connect Jeddah Port to India's Mundra, Nhava Sheva

A leading maritime services company announced on Sunday the launch of a new liner service connecting the Red Sea's Jeddah Islamic Port to India's Mundra and Nhava Sheva, two of the largest commercial ports in the country. Folk Maritime Services Company, a Public Investment Fund and one of the region's emerging leaders in providing regional liner and feeder services, said the 10-day facility with two vessels will commence in September. According to a company statement, the services will strengthen trade ties by facilitating the movement of consumer cargo from India and products from Saudi Arabia, including petrochemicals. In addition to deploying its vessel, Folk Maritime has also signed a Vessel Sharing Agreement (VSA) with Oman's Asayd, which will also deploy a vessel for the new route, the statement revealed. Announcing the new India Redsea Service (IRS), Poul Hestbaek, Chief Executive Officer of Folk Maritime, said the new route would further "enhance bilateral trade between the

The Economic Times

New liner service to connect Red Sea's Jeddah Port to India's Mundra, Nhava Sheva

Folk Maritime Services Company has launched a new liner service connecting Jeddah Islamic Port in the Red Sea to India's Mundra and Nhava Sheva ports. This 10-day service, starting in September, aims to strengthen trade ties between Saudi Arabia and India by facilitating the movement of consumer cargo and petrochemicals.

Business Standard

Odisha set to lead petrochemical sector: Union minister Anupriya Patel

Union Minister Anupriya Patel on Friday said Odisha is ready to become a leader in the petrochemical sector which is projected to be a USD 1 trillion industry by 2047. Addressing a conference "Advanced India: Indian Chemicals and Petrochemicals Paving the Future" here, she said the eastern state with its skilled manpower and strategic coastal location is poised to become a major hub in the sector. She also said the India Chem 2024 summit, scheduled to take place in Mumbai from October 17-19 after a two-year hiatus, is expected to attract significant global participation. Odisha, with its skilled manpower and strategic coastal location, is poised to become a major hub for chemicals and petrochemicals, and will offer vast opportunities for manufacturing, employment and exports, Patel, the minister of state for chemicals and fertilizers, said. The sector, currently valued at USD 220 billion, is projected to surpass USD 1 trillion by 2047, she said, adding that the government's focus o

Business Standard

BPCL plans refining, petchem projects over 5-7 years to meet energy demand

India's annual consumption of refined fuels and petrochemicals is expected to rise steadily by 4-5 per cent and 7-8 per cent in the 'foreseeable future'

Business Standard

IOC, BPCL & GAIL fail to meet listing norms for 5th quarter in row, fined

India's biggest oil firms including Indian Oil, BPCL and gas utility GAIL have been slapped with fines for a record fifth straight quarter for failing to meet listing norms of having the requisite number of independent and women directors on their board. Stock exchanges BSE and NSE have slapped fines on oil refining and fuel marketing giants Indian Oil Corporation (IOC), Hindustan Petroleum Corporation Ltd (HPCL) and Bharat Petroleum Corporation Ltd (BPCL), explorer Oil India Ltd (OIL), gas utility GAIL (India) Ltd, and refiner Mangalore Refinery and Petrochemicals Ltd (MRPL) for not meeting the listing requirement in the April-June quarter. In separate stock exchange filings, the companies detailed the fines imposed by the BSE and NSE for either not having the requisite number of independent directors or the mandated women directors in the quarter ended June 30, 2024 (first quarter of current 2024-25 fiscal year), but were quick to point out that appointment of directors was done by

The Economic Times

Oil giants keep rolling in fines: IOC, BPCL & others hit for missing board norms for fifth consecutive quarter

​​ Stock exchanges BSE and NSE have slapped fines on oil refining and fuel marketing giants Indian Oil Corporation (IOC), Hindustan Petroleum Corporation Ltd (HPCL) and Bharat Petroleum Corporation Ltd (BPCL), explorer Oil India Ltd (OIL), gas utility GAIL (India) Ltd, and refiner Mangalore Refinery and Petrochemicals Ltd (MRPL) for not meeting the listing requirement in the April-June quarter.

The Economic Times

Andhra Pradesh offers three sites for BPCL project

The company is considering building an integrated refinery-cum-petrochemicals complex of 9-12 million tonnes per annum (mtpa) capacity in Andhra Pradesh. Based on the refinery's configurations, a 9 mtpa capacity would require about 800-1,000 acres of land.

Hindustan Times

Government approves ONGC's Rs.18,365 crore additional investment proposal in OPaL to increase petrochemical presence

The government has approved ONGC's additional invetsment in petrochemical complex OPaL for the oil and gas major to diversify into petrochemicals

Business Line

Movers & Shakers: Stocks that will see action this week

Here is what the charts say about the shares of CG Power and Industrial Solutions, Mangalore Refinery & Petrochemicals and Vardhman Textiles

The Economic Times

GE Power India gets order to supply main turbine spares

GE Power India Ltd (GPIL) announced receiving an order from Mangalore Refinery and Petrochemicals for main turbine spares to be fulfilled within 18 months, as stated in an exchange filing. The order is valued at Rs 76.67 million excluding GST. GPIL specialises in engineering, procurement, manufacturing, construction, and servicing of power plants and equipment, operating engineering centers in Noida and Kolkata, and a boiler manufacturing unit in Durgapur, West Bengal.

The Economic Times

Haldia Petrochemicals Limited announces 10-year naphtha supply agreement with QatarEnergy

Haldia Petrochemicals Limited (HPL) has secured a long-term naphtha supply agreement with QatarEnergy. QatarEnergy. The agreement was signed through its subsidiary. The deal will provide up to 2 million tons of naphtha to HPL over the next decade starting from Q2 2024. The deal reflects a commitment to India's economic growth, with both parties emphasizing the strong relationship between Qatar and India. This significant agreement strengthens the partnership between HPL and QatarEnergy.