What Will Privatization Mean For India’s Burgeoning Oil Industry?

Indian state-owned oil and gas producer Oil and Natural Gas Corporation Limited (ONGC) is told to sell its stake in the country’s oil fields as part of the Ministry of Petroleum and Natural Gas seven-point plan to boost production after a year of limited production.  According to a Press Trust of India (PTI) report the country’s Ministry of Petroleum and Natural Gas is communicating with ONGC on how to increase oil output over the coming years.  The plan, titled 'ONGC Way Forward', suggests that ONGC divests its stake in several…