India to Evaluate Gigantic Merger of 13 Oil Companies
Monday, 25th July 2016
India’s government has begun the process of evaluating the prospects of an ambitious plan that aims to merge 13 state oil firms to create a giant corporation that is expected to have a bigger market value than Russia’s state oil giant Rosneft and India’s Reliance Industries Ltd.
Indian companies decline to sign PSC for offshore concessions in Gulf of Suez and Red Sea
Wednesday, 31st July 2013
The Petroleum Ministry has conveyed to the Ministry of External Affairs that the Indian consortium comprising Gujarat State Petroleum Corporation (GSPC), Hindustan Petroleum Corporation Limited (HPCL) and Oil India Limited (OIL) has 'unanimously' decided not to sign the concession agreement for two offshore oil exploration blocks.