India plans to establish oil giant

India plans to establish oil giant
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The Indian government is considering an initiative to unite 13 state oil companies in order to create one of the largest players on the world stage, the Economic Times reports.

In case the corresponding decision is made, the new integrated corporation will receive revenues commensurable with the U.S. Chevron, whereas in terms of its capitalization, the projected company will worth more than Russian Rosneft.

The market price of only the half of the companies’ list are estimated at $77 bln, while capitalization of the Russian company totals $55 bln now.

We should remind you that India considered a similar project as far back as 2005, however, then the idea was thought to be counter-productive and, hence, laid aside. At present, Indian Ministry of Oil withholds comments on the issue.