Decks clear for ONGC to merge refining subsidiary MRPL with HPCL
NEW DELHI: State-run oil and gas explorers ONGC plans to complete merger of its refining subsidiary Mangalore Refinery and Petrochemicals Ltd (MRPL)with recently acquired Hindustan Petroleum Corp Ltd (HPCL) in next financial year to align its upstream and downstream operations into two verticals being more focus into respective businesses. Sources said that the process of […]
ONGC cuts debt by 35 per cent to Rs 13,949 crore
NEW DELHI: State-owned Oil and Natural Gas Corporation (ONGC) has cut its debt by more than one-third but faces an uphill challenge to meeting planned expenditure during current fiscal due to oil and gas prices falling below sub-optimal levels, according to company officials and regulatory filings. ONGC’s outstanding debt of Rs 21,593 crore as on […]