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ONGC plans new trading arm, eyes $1B profit from operations
ONGC to launch trading company aiming for $1B profit via internal flows.
Oil & Natural Gas Corporation (ONGC) is readying the launch of a trading company to manage crude and refined product flows between group entities. The proposed arm is expected to generate around $1 billion in annual profits by optimizing internal trade margins and working capital. The plan aligns with public sector firms widening downstream, trading, and integration roles to enhance profitability and internal efficiency amid volatile global oil markets.