Cabinet approves grant of Rs 22000 crore for oil companies

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New Delhi (12/10/2022): The Union Cabinet has approved the proposal of the Ministry of Petroleum and Natural Gas regarding a massive grant.

As per the approval, an amount of Rs 22,000 crore to 3 Public Sector Undertaking Oil Marketing Companies (PSU OMC’S), the grant will be distributed among 3.

The 3 PSU’s include Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL).

This approval will help the PSU OMC’s to continue with their commitment towards the Atmanirbhar Bharat Abhiyan. The commitment will help ensure unhindered LPG supply in and a support towards the procurement of Make in India products.

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