IOC-Oil India Merger On The Cards

IOC-Oil India Merger On The Cards

Even as the Union Cabinet is getting all set to bless the mega ONGC-HPCL merger, ET Now exclusively learns that the Narendra Modi government has already zeroed in on another mega transaction between PSUs to create yet one more oil behemoth.

RIL, Shell, ONGC Asked To Pay $3 Billion In Penalty

RIL, Shell, ONGC Asked To Pay $3 Billion In Penalty

The government has ordered Reliance Industries (RIL), Shell and ONGC to pay a combined $3 billion in penalty following an arbitration award in the Panna Mukta Tapti (PMT) oil field dispute that went in favour of the government, according to people familiar with the matter. RIL and Shell have appealed the arbitration award in a UK court.

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