ONGC Videsh not to be split

 The government is considering the possibility of setting up a company similar to ONGC Videsh Ltd, with the Oil and Natural Gas Corporation (ONGC), the Indian Oil Corporation (IOC), Hindustan Petroleum Corporation Ltd (HPCL), Bharat Petroleum Corporation Ltd (BPCL) and Gail (India) Ltd as promoters, for participating in exploration projects abroad.

 This was decided at a meeting convened by Petroleum Secretary B K Chaturvedi to discuss the possibility of downstream oil marketing and refining companies participating in oil and gas exploration and production projects abroad.

 The petroleum ministry did not approve of the idea to split ONGC Videsh