It would make more sense for Indian Oil (IOCL), the country’s biggest refiner, to acquire rival Bharat Petroleum or Hindustan Petroleum or natural gas marketing company GAIL (India) than a producer like Oil India as part of the government’s plan to create a major state-owned energy company , the finance chief of IOCL said.
“Broadly , there are just two potential acquirers -Oil & Natural Gas Corp. and Indian Oil -and there are four potential targets -BPCL, HPCL, GAIL and Oil India,“ AK Sharma, director (finance) of Indian Oil, told ET in an interview, while analysing combinations. “It’s all very hazy right now. The government will take a final call on who should merge with whom.“ Read More…
Credit By : ET Energy World
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