ONGC, HPCL Remaining Independent Listed Cos Makes Sense; MRPL Merger Good: HPCL CMD

ONGC, HPCL Remaining Independent Listed Cos Makes Sense; MRPL Merger Good: HPCL CMD

In line with government’s intention to create an integrated energy company with interests in exploration, production, refining and marketing of the fuel in both India and abroad, the he Union Cabinet on Wednesday gave an in-principle approval to the proposed acquisition of government’s 51.1% stake in Hindustan Petroleum Corporation (HPCL) by Oil and Natural Gas Corporation (ONGC), paving the way for an Indian oil and gas giant.

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