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India Asks State-owned Oil Company ONGC To List Overseas
Aug 23, 2018

According to a letter seen by Reuters on August 21, the Indian government has asked its largest state-owned company, Oil and Gas Corporation (ONGC.NS), to list its overseas subsidiary ONGC Videsh.

The company has production assets in 11 countries including Russia, Brazil and Iran, and its listing plan is one of the government's initiatives to promote the sale of state-owned assets to raise funds.

In a letter to the Indian oil and gas company, the Investment and Public Asset Management Department said that listing also helps to unlock the value of the sector by improving corporate governance and efficiency. 

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