Interim-Dividend

OTBL declares an interim dividend of 10% of paid-up capital

The ONGC TERI Biotech Limited (OTBL), a joint venture company between the Oil and Natural Gas Corporation Limited (ONGC) and The Energy and Resources Institute (TERI), declared an interim dividend of 10% of the paid-up capital of Rs 25 crores out of which TERI received Rs.1.08crores after tax. The same was given by the Chairman, ONGC to TERI Director General (DG) in the presence of Director Finance, ONGC, Senior officials of ONGC, and TERI Programme Directors on 10th September 2022.

  • The ONGC TERI Biotech Limited (OTBL), a joint venture company between the Oil and Natural Gas Corporation Limited (ONGC) and The Energy and Resources Institute (TERI), declared an interim dividend of 10% of the paid-up capital of Rs 25 crores out of which ONGC received Rs.1.12 crores after tax. The same was given by OTBL to ONGC on 29th Aug 2022 in front of the entire ONGC Board.

  • The OTBL, a result of an enduring collaboration between ONGC and TERI, was born in 2007 with a paid-up capital of Rs.5 Lakhs only (contributed by ONGC) with the aim to find sustainable solutions and provide green technology to the oil and gas sector. ONGC holds a share of 49.98%, while TERI has 48.02% of the company.

  • The OTBL, which began as a start-up, today provides large-scale bioremediation solutions by application of ‘OILZAPPER’ - a consortium of crude oil and oily sludge degrading bacteria developed by TERI after seven years of extensive research - to clean up oil spills as well as undertakes Microbial Enhanced Oil Recovery and Wax Deposition Prevention / Paraffin Deposition Bacteria treatment for the prevention of paraffin deposition in oil well tubing and surface flow lines to oil companies in India and abroad, especially in the Middle East.