Indian Oil Corp prepared to buy Gail or OIL

Indian Oil Corp. is willing to buy Gail or Oil India Ltd, the company’s head of finance, A.K. Sharma, has said.
By Staff reporter 12 October 2017 0 27946

Indian Oil Corp. is willing to buy Gail or Oil India Ltd, the company’s head of finance, A.K. Sharma, has told The Economic Times.

India’s larger state-owned oil and gas companies are looking to acquire their smaller counterparts to create companies that will have the resources to make large investments and compete with IOCs.

The mergers are also expected to make the companies more resilient, with the resultant businesses having a more balanced mixture of upstream and downstream activities.

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