India is considering merging 13 national oil companies into a single corporation. According to the Indian edition of The Economic Times, citing sources of the Ministers’ Cabinet, the government has already begun negotiations on this issue. The Indian Ministry of Oil is estimating the prospects for the creation of state corporation, which will include the leader of India's oil production ONGC, the largest refiner Indian Oil Corporation, and other large companies. The aggregate market value of the eight out of the nine Indian oil companies amounts to $54 billion. India is the world’s fourth largest oil importer (after the U.S., China and Japan).

 

 

 

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