ONGC Petro additions Limited (OPaL), a subsidiary of Oil and Natural Gas Corporation (ONGC), has relinquished its 'only-for-export' unit status as it aims to tap into the booming local petrochemical market to drive a turnaround. In a stock exchange filing, ONGC said OPaL has received the final approval for its exit from the Dahej Special Economic Zone (SEZ).

"ONGC Petro additions Limited, subsidiary of the Company, has received Letter dated 07.03.2025 from the Development Commissioner, Dahej Special Economic Zone granting final exit to OPaL from Dahej Special Economic Zone. Accordingly, OPaL shall operate as a Domestic Tariff Area (DTA) unit with effect from 08.03.2025. Further, this exit from SEZ will improve the competitiveness of OPaL for supplies to be made to the DTA.

This essentially means primarily catering to the domestic Indian market instead of focusing on exports, which is the primary purpose of an SEZ unit. It will now not have to pay customs duty on products sold within India, helping improve margins.