Oil Minister Dharmendra Pradhan Monday said there is no proposal, at present, for the merger of state-owned oil and gas entities under consideration of his ministry.
While state-owned Oil and Natural Gas Corporation (ONGC) had last year acquired government stake in Hindustan Petroleum Corporation Ltd (HPCL), Indian Oil Corp (IOC) and Bharat Petroleum Corp Ltd (BPCL) were both keen on acquiring gas utility GAIL India Ltd.
“At present, there is no proposal to merge state-run oil and gas entities under consideration of the ministry,” Pradhan said in a written reply to a question in the Lok Sabha here.
He had on February 7, 2018, told the Rajya Sabha that IOC and BPCL have separately indicated to the petroleum ministry their interest in taking over GAIL to add natural gas to their oil refining and marketing business. Read more