GSPC to sell 12 of its 21 hydrocarbon blocks to pare debt1 min read . Updated: 21 Mar 2019, 03:07 PM IST
- GSPC had hired consulting firm EY in 2016 to prepare a report on the stake sale, in an attempt to reduce its debt
- Five of the blocks put on sale are operated by ONGC, 3 by GNRL, 2 by GSPC, and 1 each by Sun Oil and Oilex
Mumbai: State-run Gujarat State Petroleum Corp. Ltd (GSPC) has put 12 of its 21 hydrocarbon blocks on the block to reduce its debt, according to two people aware of the development. GSPC is the flagship firm of the GSPC Group, which is involved in exploration and production of oil and gas. The Gujarat government owns 87% in GSPC.
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