Oil & Natural Gas Corporation has successfully completed its investment in two joint venture companies formed in partnership with Mitsui O.S.K. Lines Ltd (MOL), Japan, marking a significant step in securing ethane transportation for its subsidiary operations. The investment, totaling ₹40.00 crores, establishes ONGC as a 50% joint venture partner in both entities through private placement of equity shares.

Joint Venture Structure and Investment Details

The company has been allotted equity shares in two joint venture entities registered in Gift City, Gandhinagar. The investment structure demonstrates ONGC's strategic approach to securing feedstock transportation capabilities for its petrochemical operations.

Strategic Purpose and Operations

Each joint venture will own one Very Large Ethane Carrier (VLEC) that will operate under the Indian flag. These vessels are specifically designed for transporting ethane from the United States of America to meet the feedstock requirements of ONGC Petro additions Limited (OPaL), a subsidiary of ONGC. The partnership leverages Mitsui O.S.K. Lines' expertise in shipping operations while providing ONGC with direct control over its ethane supply chain.

Regulatory Approvals and Timeline

The joint venture formation has received necessary regulatory clearance from the Department of Investment and Public Asset Management (DIPAM). Both companies were incorporated in September 2025 and have not yet commenced business activities. The acquisition was completed in January 2026, following earlier filings dated November 10, 2025, and a press release dated January 5, 2026.

Business Impact and Industry Focus

The acquisition represents ONGC's expansion into the shipping industry through strategic partnership. The joint ventures operate in the shipping sector, specifically focusing on ethane transportation services. This investment does not constitute a related party transaction, as confirmed in the regulatory disclosure. The partnership structure ensures equal control and risk-sharing between ONGC and Mitsui O.S.K. Lines Ltd in both entities.

The investment strengthens ONGC's integrated value chain by securing dedicated transportation capacity for ethane imports, supporting the feedstock requirements of its petrochemical subsidiary OPaL and enhancing supply chain reliability for its downstream operations.

Oil & Natural Gas Corporation has announced significant changes in its senior management structure with the appointment of four Executive Directors, effective January 19, 2026. The appointments were disclosed under Regulation 30 of the SEBI (LODR) Regulations, 2015, highlighting the company's commitment to strengthening its leadership team with experienced professionals.

New Executive Director Appointments

The four newly appointed Executive Directors bring substantial experience and diverse engineering backgrounds to ONGC's senior management team:

Professional Background and Experience

All four appointees began their careers as Assistant Executive Engineers (AEE) in their respective specializations and have progressively advanced through various roles across ONGC's operations. Their combined experience spans critical areas of the oil and gas sector including production, electronics, mechanical systems, and electrical operations.

Key Highlights

• Diverse Engineering Expertise: The appointments cover electronics, mechanical, chemical, and electrical engineering disciplines
• Extensive Field Experience: All executives have served across multiple ONGC locations throughout India
• Advanced Qualifications: Three of the four appointees hold MBA degrees in specialized areas
• Leadership Experience: Each executive brings over three decades of progressive experience within ONGC

Strategic Significance

The appointment of these Executive Directors represents ONGC's focus on promoting experienced internal talent to senior leadership positions. These executives have demonstrated their capabilities across various operational locations and technical domains, positioning them to contribute effectively to the company's strategic objectives.

The appointments were formally communicated to both the National Stock Exchange of India Limited and BSE Limited, ensuring compliance with regulatory disclosure requirements. This management strengthening initiative reflects ONGC's commitment to maintaining robust leadership across its operations as the company continues to play a pivotal role in India's energy sector.