VERIFIEDET Finance·17 Sept 2026negative

Hormuz crisis lifts ONGC oil business, squeezes petrochemical unit as feedstock costs surge

AI Summary

·ONGC's oil exploration sector is experiencing growth.
·ONGC's petrochemical unit, OPaL, is facing significant losses due to rising naphtha and gas prices.
·OPaL plans to import ethane feedstock by FY2030 and divest from certain product lines to improve its financial standing.