Policy & Regulation

India fast-tracks competition process for state-owned oil and gas companies

The government of India has exempted public sector oil and gas companies from requiring mandatory approvals from the country’s competition commission for mergers
By Staff reporter 24 November 2017 0 28550

The government of India has exempted public sector oil and gas companies from requiring mandatory approvals from the country’s competition commission for mergers, according to The New Indian Express.

The exemption was made by the Ministry of Corporate Affairs and will last for five years. The first merger in the sector has already been given the go-ahead by the Cabinet Committee on Economic Affairs and involves the sale of the government’s 51.11% stake in oil refiner Hindustan Petroleum Corp. to Oil and Natural...