ONGC Set to Take Con­trol of HPCL to Cre­ate an En­ergy Ma­jor

The Economic Times - - Front Page -

Oil and Nat­u­ral Gas Cor­po­ra­tion (ONGC) will take con­trol of Hin­dus­tan Pe­tro­leum Corp (HPCL) as part of the gov­ern­ment’s plan to cre­ate an in­te­grated pub­lic sec­tor oil en­tity com­pa­ra­ble with big global oil com­pa­nies like Shell BP and Exxon, top gov­ern­ment of­fi­cials told ET. The move will stop short of a com­plete merger, which may take longer.

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