ONGC receives first dividend payout from its ONGC Teri BioTech shares
The Energy and Resources Institute (TERI) and Oil and Natural Gas Corporation Limited (ONGC) collaboration happens in 1996 for a sustainable future.
ONGC receives first dividend payout from its ONGC Teri BioTech shares
New Delhi: Maharatna ONGC receives the first dividend payout of Rs 1,12,45,000 from its shares in ONGC Teri BioTech. The share of ONGC in this partnership is 49.98% and that of TERI Bio-Tech is 48.02%.
The Energy and Resources Institute (TERI) and Oil and Natural Gas Corporation Limited (ONGC) collaboration happens in 1996 for a sustainable future. A long success story of the collaboration between ONGC and TERI culminated in the formation of ONGC TERI Biotech Limited (OTBL) in 2.
OTBL: economic-ecological solutions
TERI, a leader in the field of bioremediation of oil spill sites, has been providing such services to ONGC. To use bioremediation technology as well as other biotechnology solutions such as Microbial Enhanced Oil Recovery (MEOR) and Wax Deposition Prevention (WDP) on a large scale in oilfield installations, a joint venture “OTBL” was formed between TERI and ONGC. The share of ONGC in this partnership is 49.98% and that of TERI is 48.02%.
Read Also : SAIL DSP and EMD signs agreement with Sentra WorldNews Must Read
- Shri. Bikram Ghosh takes charge as Director (Finance) in WCL
- SBI to change debit cards maintenance normal from 1 April, 2024
- NMDC excels at Governance Now 10th PSU Awards
- NTPC Group ties up JPY 30 billion funding from JBIC
- Jabalpur Airport connects Madhya Pradesh to other cities
- Best Organisations for Women title to PowerGrid
- Air India Faces Heavy Fine from DGCA of Rs 80 Lakh
- NCL's mega achievement; surpasses 500 Million Cubic Meters of Overburden
- RailTel bags major order from CDAC worth Rs 36 crore
- ICRA withdraws long term rating of NCDs of ONGC