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India plans to create national oil behemoth

Indian oil companies have been too small to keep up with global competitors. The divestment of a large national oil company will now change things.

Photo: Gazprom
BY

Denmark's Dong Energy recently sold its oil division to a British-Swiss firm, but India has a different plan.

The country wants to strengthen its national oil sector, and the Indian government will now launch a divestment of its national oil company Hindustan Petroleum Corporation to an even larger, national oil company, reports the Financial Times.

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