ONGC to take control of HPCL to make bigger oil part element
Monday, February 27, 2017 IST
ONGC to take control of HPCL to make bigger oil part element
Mumbai: India`s state-run Oil and Natural Gas Corp will take control of Hindustan Petroleum Corp as a feature of the government`s plan to make an incorporated open area oil substance, the Economic Times every day gave an account of Monday refering to top government authorities.
India arrangements to make a mammoth oil organization by consolidating state-possessed firms, fund serve Arun Jaitley said in the spending discourse not long ago as the world`s third biggest oil customer hopes to better contend with worldwide majors in obtaining remote resources.
"It is a critical choice. A bureau note will soon be moved. The legislature of India will exchange its larger part shareholding (of 51.11 percent in HPCL) to ONGC, which will then turn into the holding organization of HPCL," the paper composed refering to one of the authorities.
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