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Hindustan Petroleum stake sale gets nod: source

The sale to India's biggest oil and gas explorer creates an oil giant comparable with international rivals that could weather crude-price volatility

The Hindustan Petroleum Corp stake sale is unlikely to trigger an open offer as the government's holding is being transferred to another state-run firm.

New Delhi

INDIA approved the sale of a stake in state-run refiner Hindustan Petroleum Corp (HPCL) to the country's biggest oil and gas explorer, according to a person with knowledge of the decision.

The move fulfils a plan, first outlined in February, to create an Indian oil giant...

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