ONGC-HPCL deal: State-run oil firms to see more integration, says Pradhan


India could see more integration among state oil companies, its oil minister said on Monday, following top producer ONGC's $5.8 billion deal last week to buy a majority stake in refiner Hindustan Petroleum Corp Ltd.

India wants to build bigger oil companies to better compete with global energy giants and withstand oil price volatility through integration of state-run oil firms. "There is scope for more vertical integration in the sector," oil minister Dharmendra Pradhan told a news conference. He was speaking after.....

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