The chairman of the country’s largest oil marketing firm believes that the government’s Budget proposal to merge all state-owned energy firms into a consolidated giant will help them enhance their position in the international market. “The proposal of merging oil companies into one big public sector undertaking (PSU) is a welcome move, though it may not be an easy task,” said IOC chief B Ashok.
He said that integration across the value chain will bring stability to the industry and mergers can lead to creation of a world-scale company.
“The oil and gas industry is highly volatile, prices are fluctuating and integration can help absorb this volatility better,” he said. Read More…
Credit By : Money Control
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