The India is planning to merge its state oil and gas companies to create a new international company to compete more effectively with the major energy groups in the world.
According to the Financial Times website, the goal of the Indian Government would create a company that could do everything from exploration to the sale of fuel in gas stations in an attempt to compete with the strength of international energy companies.
The country has 13 State-controlled oil companies, the largest of which is the Oil and Natural Gas Corporation. However, most are relatively small, but if the Ministers decide to merge the largest would create a company with a market capitalization of just over $100 billion, that of BP, which is valued at about $116 billion.
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