HPCL to go slow on E&P joint venture

 It has now decided to go ahead on its own and is talking to several upstream oil companies, including Oil and Natural Gas Corporation (ONGC), for a strategic partnership.

 Hindustan Petroleum Corporation floated Prize Petroleum in the 1990s, in partnership with institutions such as ICICI and HDFC, to hedge the high risks involved with E&P.

 Hindustan Petroleum Corporation has now decided to enter upstream