Petroleum Minister Dharmendra Pradhan has clarified that Budget 2017-18’s bare announcement of the government intent to merge state-run oil companies into a single entity will actually mean creation of multiple entities. The proposal, though welcomed by industry officials, has drawn mixed reactions from analysts, who see multiple challenges in it.
“It will not be one company. It will not be wise to put all eggs in one basket. There will be multiple companies…but all these will be integrated,” Pradhan told reporters here following the budget presentation earlier last week.
He elaborated that each new company would deal with aspects of the entire value chain such as exploration and production, refining and marketing. Read More…
Credit By : Energy Economics Times
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