Govt open to discussion on merger of oil firms

KOLKATA: The government is open to discussions on the issue of the mega merger of state-owned oil firms for creating a behemoth, oil minister Dharmendra Pradhan

KOLKATA: The government is open to discussions on the issue of the mega merger of state-owned oil firms for creating a behemoth, oil minister Dharmendra Pradhan said. “The government plans to deliberate on the issue of merging the E&P (exploration and production) companies and oil marketing firms in the public sector,” Pradhan said. With crude oil prices falling, the profits and margins of state-owned E&P firms, ONGC and Oil India, were getting eroded. “The issue was flagged by a director of one of the PSUs that it was in the interest of the E&P firms to get merged with oil marketing companies,” Pradhan added.

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