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ONGC keen to buy govt stake in refiner HPCL - minister
June 14, 2017 / 4:19 PM / 6 months ago

ONGC keen to buy govt stake in refiner HPCL - minister

NEW DELHI (Reuters) - India’s top explorer Oil and Natural Gas Corp (ONGC) is keen to acquire the government’s stake in oil refiner Hindustan Petroleum Corp (HPCL), the country’s oil minister said on Wednesday.

Oil Minister Dharmendra Pradhan speaks on phone during an interview with Reuters in New Delhi, India, May 5, 2016. REUTERS/Adnan Abidi/Files

“ONGC has shown interest,” Dharmendra Pradhan told reporters in New Delhi.

“In my view, HPCL’s independent identity and brand will be protected in the process,” HPCL Chairman Mukesh Kumar Surana said, indicating the refiner could become a subsidiary of ONGC.

Reporting by Nidhi Verma and Neha Dasgupta; Editing by Mark Potter

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