Oil & Natural Gas Corporation, under
the new management, has reportedly decided to focus on its core activities. With
the result, non-core activities such as development of retail outlets, special
economic zones at Kakinada and Dahej, wind energy projects, etc. are likely to
be reviewed.
ONGC would now focus on its core
activity -- oil exploration and production, though some downstream activity
(petrochemicals) would continue through its subsidiary, Mangalore Refinery &
Petrochemicals.
ONGC is expected to seek the
government’s approval for its new business plan later in July 2006.
(Note: In June 2006, Mr R S Sharma
took over as the new Chairman and Managing Director of ONGC from Mr Subir Raha.)
For ProjectsToday's special feature on
ONGC's diversification plans, click
here.