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Politics

India plans to merge oil and gas SOEs into $100bn behemoth

Seeks to take on global oil giants in exploration and production assets

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Oil and Natural Gas Corp. is India's largest state-owned energy company.   © Reuters
KIRAN SHARMA, Nikkei staff writer | India

NEW DELHI -- With the aim of taking on major global energy companies, the Indian government has spelled out an ambitious plan to set up an oil and gas behemoth by merging existing state-run companies.

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