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    Assam Hydrocarbon and Energy Company Limited seeks 10 per cent participating interest in Oil India Limited

    Synopsis

    Representatives of Assam Petrochemicals Limited (APL) and Assam Hydrocarbon and Energy Company Limited (AHECL) also called on the Union Minister and submitted separate memorandums outlining demands of both the PSUs.

    GUWAHATI: State government public sector unit, Assam Hydrocarbon and Energy Company Limited (AHECL) requested the Union Minister for approval of 10 percent participating interest in Oil India Limited (OIL) as a measure to make the PSU more viable.

    Union Minister of Petroleum and Natural Gas Dharmendra Pradhan met Chief Minister Sarbananda Sonowal in Guwahati on Saturday and discussed various issues related to hydrocarbon sector of the State.

    During discussion, several oil and gas projects under implementation in the state were reviewed. They also discussed further strengthening the oil and gas infrastructure in the State.

    During discussion, Chief Minister Sonowal appreciated and thanked the Union Minister for the recent decisions of the Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi, which has sanctioned feedstock subsidy to BCPL for next 15 years and sanctioned subsidy for oil and gas exploration in the state, besides approval of Viability Gap Funding for setting up of the Indradhanush Gas Grid Limited (IGGL) in the North East region.

    Representatives of Assam Petrochemicals Limited (APL) and Assam Hydrocarbon and Energy Company Limited (AHECL) also called on the Union Minister and submitted separate memorandums outlining demands of both the PSUs.

    In an official communique, state government stated, “While the APL delegation requested the Union Minister for sanction of a subsidy from the Central government in line with the feedstock subsidy, which has been sanctioned to BCPL recently as per decision of the Cabinet Committee on Economic Affairs. On the other hand, the delegation of Assam Hydrocarbon and Energy Company Limited (AHECL) requested the Union Minister for approval of 10 percent participating interest in OIL as a measure to make the PSU more viable.

    Pradhan underlined the potential of the hydrocarbon sector in the north east and assured to look into the demands of APL and AHECL.

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    1 Comment on this Story

    Hudaf Shaikh362 days ago
    The Government of India should divest 10% stake of Oil India to Assam Hydrocarbon at market related rates -
    Read before you invest. Insights on Oil India Ltd.. Explore Now
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