‘Government looking at creating 2-3 integrated oil, gas units’


‘Government looking at creating 2-3 integrated oil, gas units’

Towards realising a proposal contained in the Union Budget for 2017-18 for merging state-run oil and gas companies into a single entity, the government is looking at creating two to three integrated units according to an energy expert here.

“The government seems to be moving in the direction of one ONGC (Oil and Natural Gas Corp)-led integrated player. GAIL should be encouraged to be the integrated player in the gas segment,” Narendra Taneja told BTVi in an interview.

Following Finance Minister Arun Jaitley’s budget proposal in February of a merger, reports said explorer ONGC may acquire state-run fuel refiner HPCL for about Rs 44,000 crore.Read More…

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