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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

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.

India has about a dozen such state-run companies, including Oil and Natural Gas Corp., the biggest of them. Other major energy companies are Indian Oil Corp., Gas Authority of India, Bharat Petroleum Corp. and Hindustan Petroleum Corp.

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