(BS)
The Petroleum Ministry has asked state-owned oil giants to come up with proposals for the companies they want to acquire or be merged with so as to become integrated oil company. Following up on Finance Minister Arun Jaitley’s Budget announcement of creating an integrated oil company, the ministry has asked companies in its purview to present integration plans, Oil Minister Dharmendra Pradhan told reporters here.”We have asked the companies to appoint consultants, assess the advantages and disadvantages. Let them come with concrete proposal to the ministry,” he said.
The Department of Investment and Public Asset Management and the Petroleum Ministry together are closely monitoring the integration plans. “I think things are on the right track.
