ONGC forms joint ventures with Japan’s MOL to enter ethane shipping businessONGC forms joint ventures with Japan’s MOL to enter ethane shipping business

Introduction

Leading Indian energy firm partners with Japan’s MOL to form joint ventures, operating two Very Large Ethane Carriers to transport ethane from the United States to its petrochemical subsidiary.

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Share price movement of ONGC

On January 6, 2026, Oil and Natural Gas Corporation Ltd (ONGC) opened at ₹238.00, up 0.86% from its previous close of ₹238.00. The stock reached a high of ₹241.80 (1.63%) and a low of ₹237.85. By 11:10 AM, it traded at ₹240.05, a 0.86% increase, with a market cap of ₹3,01,989.60 crore.

ONGC Enters Ethane Shipping Venture

Oil and Natural Gas Corporation Limited signed joint venture and capital contribution agreements with Mitsui O.S.K. Lines, Japan, on January 5, 2026, to enter the ethane shipping business.

ONGC will subscribe to 2,00,000 equity shares of ₹100 each in Bharat Ethane One IFSC Private Limited and Bharat Ethane Two IFSC Private Limited, both registered in GIFT City.

After completing the equity subscription, ONGC will hold a 50 percent stake in each joint venture, while the remaining 50 percent equity will be held by Mitsui O.S.K. Lines.

Each joint venture company will own and operate one Very Large Ethane Carrier, operating under the Indian flag, to transport ethane from the United States of America.

The ethane shipments will supply ONGC Petro additions Limited, a subsidiary of ONGC. The initiative is supported by the Ministry of Petroleum and Natural Gas and DIPAM, Ministry of Finance.

Stock performance of ONGC for Period of 1 week, 6 months, and 1 year

ONGC delivered a 1.45% return over the past week, it declined by 2.06% in the past six months. The stock fell 6.40% over the past year.

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Shareholding pattern of ONGC

Particulars	Sep 2025	Jun 2025	Mar 2025
Promoter	58.90%	58.90%	58.90%
FII	7.00%	7.10%	7.10%
DII	30.30%	30.20%	30.20%
Public	4%	4%	4%

About ONGC

Oil & Natural Gas Corporation Ltd (NSE: ONGC) is India’s largest crude oil and natural gas company, contributing approximately 71% to domestic production and operating across exploration, production, and energy sectors.

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Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time. The securities quoted are exemplary and are not recommendatory.

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