December 20, 2017 / 11:29 AM / 10 months ago

Indian refiner BPCL prepared to integrate with GAIL, Oil India

NEW DELHI, Dec 20 (Reuters) -

* State refiner Bharat Petroleum Corp has written to the oil ministry for integration with GAIL (India) Ltd and Oil India Ltd as option 1 and 2, said oil minister Dharmendra Pradhan on Wednesday.

* The government has not taken any decision in this regard, Pradhan told lawmakers in a written reply.

* India wants to build bigger oil companies to better compete with global oil giants and withstand oil price volatility through integration of state-run oil firms.

* The government has approved sale of its 51.1 percent stake in refiner Hindustan Petroleum Corp to oil producer Oil and Natural Gas Corp. (Reporting by Nidhi Verma)

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