Budget impact: Merger may create 2-3 oil and gas mammoths

If all the companies are joined together, it would create the biggest company in India

The oil and gas sector would have two or three mega-companies and not one single entity through the merger of 13 oil public sector undertakings, as was announced in the Budget.

Finance Minister Arun Jaitley had on Wednesday said the government was planning to merge all the public sector undertakings in the oil and gas sector to create an integrated company. When asked about this, an official close to the development said, “It may lead to the merger of several mini-ratnas into maharatnas and navratnas to form at least three or four big companies.” The new companies are likely to