ONGC launches e-tendering portal to digitalise trading of crude oil and gas

• The initiation of the portal is a momentous step and will bring in transparency and fairness in the trading system of ONGC group companies, said the ONGC CMD
• We intend to utilise this portal to bring in additional facilities which are not yet there, like gas marketing, the CMD added

New Delhi: State-run Oil & Natural Gas Corporation (ONGC) Group Chairman Subhash Kumar has launched an e-tendering portal — an online platform for Integrated Trading Desk (ITD) — for the sale of crude oil and petroleum products on Friday. In an official statement, ONGC said, "This digitalisation of the integrated trading desk of ONGC group of companies is a transformational initiative which will make the high-value sale and procurement of crude oil and petroleum products more efficient and transparent."

ONGC's e-tendering portal will be used for gas marketing

Kumar noted that the initiation of the e-tendering portal is a momentous step and will bring in transparency and fairness in the trading system of ONGC group companies. He said that ONGC and its group companies have always believed in leveraging technology to up-grade its operations to move up to the next level of efficiency. "We intend to utilise this portal to bring in additional facilities which are not yet there, like gas marketing. In the future, through this portal, we would also like to expand our horizon to start trading of products of our downstream group companies like ONGC Petro additions Limited (OPaL)," said Kumar.

'New e-tendering portal will bring in transparency'

The design of the portal has been coordinated by ONGC subsidiary MRPL, in collaboration with MSTC Limited, a government-owned e-commerce service provider. Managing Director of MRPL M Venkatesh said that the portal is a major improvement in the trading system. He reiterated that this will bring in a matter of accountability and traceability. MSTC Chairman Surinder Kumar Gupta said that the portal will enable complete automation and up-gradation from the manual system.

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