PSU NEWS
India Oil BPCL HPCL merger will reduce wastage of resources Fitch
New delhi . A proposed merger of Indian Oil Corp, Hindustan Petroleum Corp and Bharat Petroleum Corp will reduce inefficiencies across the sector and result in enormous savings, ratings agency Fitch said.
It would also create an entity that is better placed to compete globally for resources, and less vulnerable to shifts in oil prices and give it much stronger bargaining power with suppliers, and greater financial clout to secure oil resources it said.
Between these three companies, they control nearly 98% of India’s diesel, petrol and LPG market.Most Asian countries have just one national oil company integrated across the value chain. TRnasai
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