No more petrol pumps, Govt asks ONGC

New Delhi, Jul 17 (UNI) The government has advised oil explorer, ONGC to drop their plans to foray into retail and remain in their core competence of exploration of oil and gas.

This was indicated by the Petroleum Ministry to ONGC at a Business Plan review meet held here recently.

The Ministry has however permitted the Corporation to complete already approved refinery projects. The ministry represented by Petroleum Secretary M S Srinivasan has allowed ONGC to complete the ongoing expansion of Mangalore Refinery and Petrochemicals (MRPL).

ONGC has one petrol pump at Mangalore and 45 locations identified from Dehradun to Ahmedabad for selling petrol.

ONGC along with subsidiary MRPL had plans to raise the number of outlets to 1100 by 2008.

Retailing is part of ONGC's plans to diversify into downstream and liquefied natural gas imports to become an integrated oil and gas company with a turnover of 50 billion dollars in the next few years.

UNI/RT PV RN1610