Oil Ministry may block oil PSUs buying GDF stake in Petronet

Oil Ministry may block oil PSUs buying GDF stake in Petronet

Oil Ministry may block any attempt by state-owned GAIL, IOCB, ONGC and BPCL to buy 10 per cent stake of France’s GDF International in Petronet LNG Ltd as it is keen to keep the liquefied natural gas importer a private limited company.

GDF, a unit of French energy giant Engie SA, has written to sell its entire stake in Petronet to the company’s principal promoters — gas utility GAIL India Ltd, explorer Oil and Natural GasBSE -0.53 % Corp (ONGC) and refiners Indian OilBSE -1.03 % Corp (IOC) and Bharat PetroleumBSE -1.55 % Corp Ltd (BPCL). Read more

Credits:economictimes.indiatimes.com

One Response to "Oil Ministry may block oil PSUs buying GDF stake in Petronet"

  1. Manimaran Veerasamy   May 23, 2017 at 1:46 pm

    Why it has to be blocked? To serve the vested interests?

    What is the road map of GOI for LNG industry?

    Reply

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