India wants OMCs to merge pipeline and aviation assets

The Indian government wants its state-owned oil marketing companies-Bharat Petroleum Corp Ltd., Indian Oil Corp. and Hindustan Petroleum Corp. Ltd.- to merge their aviation and pipeline assets and bring them under one single joint venture company, Business Standard reported.
The reason behind the government’s plan is to control the budget in creating a similar infrastructure by the three OMCs.
But IOC, which is the biggest marketer of petroleum products in the country and has a near-monopoly in aviation assets, has objected to this plan, saying that it has invested in these facilities for a long period of time, the daily said. IOC has 101 aviation fuel stations, refueling more than 1,500 domestic and international flights through its subsidiary Indian Oil Aviation Service.