PSU IN MEDIA
Merged PSU energy giant to have global edge B Ashok IOC Chairman
MUMBAI: The merger of state-run energy companies will provide India the muscle to acquire assets abroad and negotiate better, but the business model of the new entity thus created will be key to its success, chairman of the country’s largest oil marketing firm said.
Energy is critical and strategic for the growth that India aspires for,” Indian Oil Corp chairman B Ashok told ET. Consolidation would help us strengthen, leverage and enhance our position more strongly in the international market. This will not happen overnight and we will have to work on different models, but it is the way forward.
“The thought process for being consolidated across the value chain has been in place for a long time. IOC has believed in this model and has been working towards it. Simultaneously, we have been removing duplications in our operations and staff,” he said.
“Industry has grown a lot and those concerns are not relevant anymore. This is the right time for such a move,” IOC chairman said. Energy.economictimes
Read Also : Indigenous Technology Cruise Missile successfully flight-tested by DRDO
News Must Read
- CIL’s capex up 6.5% to highest Rs.19,840 Crores in FY 2024
- SCOPE presents SCOPE PREMIER LEAGUE
- MCL Ib Valley Washery commenced commercial operation
- HAL bags Rs 65,000 Cr tender by Defence Ministry
- PSBs' growth output superseded Private Lending firms
- Northern Coalfields Limited CMD inspects Amlohri Area
- SCOPE organizes Public Sector Day celebrations
- IOCL Final Dividend Announcement Expected at April 30 Board Meeting
- Steel Cutting Ceremony of Indian Navy held at HSL Vishakapatnam
- DIPAM declines PFC-REC debt resolution proposal for KSK Mahanadi project