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ONGC keen to buy HPCL, may cost about Rs 42,254 crore

ONGC keen to buy HPCL, may cost about Rs 42,254 crore

Sunday, June 11, 2017, 12:36 PM

Oil and Natural Gas Corp is keen to acquire India's third-biggest fuel retailer HPCL in a Rs.42,254 crore deal after finding Bharat Petroleum Corp Ltd too expensive to buy. Following up on FM Arun Jaitley's Budget announcement of creating an integrated oil company, ONGC evaluated options of acquiring either Hindustan Petroleum Corp Ltd or BPCL the two downstream oil refining and fuel marketing companies.
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