Abstract
Subject India's efforts to make state-run oil companies more competitive at home and abroad. Significance India’s Oil and Natural Gas Corporation (ONGC), which specialises in exploration, is set to acquire a majority stake in refiner Hindustan Petroleum Corporation Limited (HPCL) by the end of the fiscal year ending March 2018. The planned consolidation of these two state-owned enterprises (SOEs) reflects the Indian government’s aim of making public sector oil companies more competitive at home and abroad, improving long-term energy security. Impacts India’s oil ministry will become increasingly involved in scrutinising oil companies’ competitiveness domestically and overseas. Any perceived privatisation of the ONGC’s assets could be met with protests by many of its 33,000 employees. The ONGC will in the long term need to diversify into a broader energy company rather than focusing only on oil and gas.
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