Central Govt Urges ONGC To Consider Selling 60% Stake In Key Oil, Gas Fields: Report

With an aim to boost output, the government has asked state-run explorer Oil and Natural Gas Corp to consider selling a 60 percent stake in its two major oil and gas fields to private companies.

The petroleum ministry has asked the state-run explorer for considering the sale to private companies, according to the official sources of Reuters.

As the world’s third-biggest oil consumer and importer, India is looking to monetise its oil and gas reserves and push ONGC to raise its production.

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