Oil and steel minister Dharmendra Pradhan on Tuesday said the oil ministry has instructed government-owned natural gas utility giant, GAIL, to form a plan to separate its gas marketing and transmission businesses.
“Marketing and laying of pipelines or transmission are two different segments, the ministry has always been of the opinion that these two job functions being done by GAIL should be separated. Yes, we have told them to prepare a road map for this,” Pradhan told media yesterday. He added that as of now no timeline on the split has been decided.
According to a news report by Bloomberg earlier this week, oil ministry had approached the Cabinet for splitting the two businesses. Meanwhile, GAIL has appointed an international consultant to determine tax implications after the restructuring. Read More
Latest posts by ET Energy World (see all)
- Indian oil companies keen to invest in Khaleej Al Bahrain basin - August 19, 2019
- Coal burning: India largest SO2 emitter in world, says Greenpeace - August 19, 2019
- Weak spot LNG prices don’t help Asia much, but boost Europe - August 19, 2019