ONGC board approves HPCL takeover of 51.11% stake

Posted on:22 Aug 2017 12:51:29
ONGC board approves HPCL takeover of 51.11% stake
22 August 2017 Current Affairs: The board of state-owned Oil and Natural Gas Corporation (ONGC) given 'in-principle' approval to acquire government's 51 (point) 11 percent stake in Hindustan Petroleum Corporation Limited.

They approved the sale of its 51.11 percent stake in oil refiner HPCL to India's largest oil producer ONGC. 

HPCL is a Government of India Enterprise with a Navratna Status, and a Forbes 2000 and Global Fortune 500 company. 

Dinesh K Sarraf is the Chairman & Managing Director (CMD) of Oil and Natural Gas Corporation Limited (ONGC).

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