Wednesday, June 17, 2026

India Approves Creating State Oil Giant in $4.6 Billion Deal

From Bloomberg Explorer ONGC to buy 51.1% stake in oil refiner HPCL Move will help government meet asset-sales target for 2017-18 India approved the sale of a stake in state-run refiner Hindustan Petroleum Corp. to the country’s biggest oil and gas explorer, according to a person with knowledge of the decision. The move fulfills a plan, first outlined in February, to create an