There’s a spanner in the works in the ONGC- HPCL deal.
Sources tell ET Now that the Oil Ministry had two-three weeks ago expressed valuation concerns regarding the deal, that aims to create a big oil behemoth. “The valuation process should have been done by December end, however, deal contours and availability of funds with ONGC are a worry for the deal to go through in FY18.” a source added.
The ONGC-HPCL deal is crucial for the government as it is expected to bring over Rs 30,000 crore to New Delhi’s coffers in a year where uncertain tax revenues is increasing the risk of fiscal deficit slippage. Read More…
Latest posts by energy.economictimes.indiatimes.com (see all)
- Proposed Safeguard Duty May Not Hit Ongoing Solar Power Projects – January 13, 2018
- W. Africa Crude-Sonangol Sells Out, IOC Opts for Some U.S. Oil – January 13, 2018
- Westinghouse Bailout Fuels Hope For India’s Nuclear Energy Sector – January 10, 2018