Panaji, Jan. 30 -- State-run Oil and Natural Gas Corp. plans to come up with a global tender for selling stake in its petrochemical subsidiary, according to a top executive.

ONGC Petro additions (OPaL) has "become our subsidiary, and we have been mandated to dilute our stake in it and bring it back to a JV structure through a global tender", said Arunangshu Sarkar, director, strategy & corporate affairs at ONGC, on the sidelines of the ongoing India Energy Week 2026. "We are looking for partners. We hope to come out with a global expression of interest (EoI)."

Sarkar, however, did not specify the quantum of shares the state-run energy major would offload in the proposed private placement.

The proposed share sale is part of the governme...