Govt has told IOC, BPCL and HPCL to look for oil supplies from outside the Middle East region and use collective bargaining power to get favourable terms
The environment preservation exercise was done to lay an LPG pipeline along the Outer Ring Road, from Chinnagolconda to Ghatkesar, to facilitate supply of LPG gas to various districts
The process is now expected to be completed by FY24 as ONGC has decided to consolidate its refining and petrochemicals business around MRPL first before pushing for its merger
Though the dates for next GST Council meeting is yet to be finalised, finance minister sources said its due and may take place anytime after the budget presentation.
Presently, HPCL is extending this pipeline from Hassan in Karnataka to Cherlapalli in Telangana through Ananthapur with a length of 653 km to meet the LPG demands in these three States
Sources said that the process of merging ONGC's two oil refining subsidiaries, HPCL and MRPL, will be started immediately after the company completes merging ONGC Mangalore Petrochemical Ltd (OMPL)