India: ONGC in talks with petrochem firms to sell 25% stake in OPaL

ONGC Petro additions Ltd (OPaL) is in talks with local and overseas petrochemical companies to sell as much as 25% in the company, three Oil and Natural Gas Corp. Ltd  (ONGC) officials familiar with the development said.

The company is jointly owned by ONGC, GAIL (India) Ltd and Gujarat State Petroleum Corp. Ltd (GSPC). ONGC and GAIL hold 44% each in OPaL, and GSPC holds the rest.

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