The Government proposes to disinvest stake of oil Public Sector Undertakings (PSUs) to meet the revenue target.

PSUs wise Government Shareholding in Oil PSUs are as follows:

1. Oil & Natural Gas Corporation (ONGC) - 68.94%
2. Indian Oil Corporation Ltd. (IOCL) - 68.57%.
3. Gas Authority of India Ltd. (GAIL)  - 56.11%
4. Hindustan Petroleum Corporation Ltd. (HPCL)  - 51.11%
5. Oil India Ltd. (OIL) - 67.64%
6. Bharat Petroleum Corporation Ltd.  (BPCL) - 54.93%
7. Engineers India Ltd. (EIL) - 69.37%
8. Biecco Lawrie Ltd. - 32.23%

The Cabinet Committee on Economic Affairs (CCEA) in its meeting held on 10th September, 2014 approved the sale of 5% paid-up equity capital in ONGC out of the Government of India’s shareholding of 68.94%.

This was stated by Shri Jayant Sinha, Minister of State in Ministry of Finance in written reply to a question in the Rajya Sabha.

Disinvestment of oil PSUs proposed to meet revenue targets, including approved sale of government stake in a major oil firm. The Government proposes disinvestment of equity in central oil Public Sector Undertakings to meet revenue targets, listing Government shareholdings in major oil PSUs and indicating plans to reduce those holdings through market sales. The Cabinet Committee on Economic Affairs approved the sale of paid-up equity capital from the Government's existing shareholding in a major oil company, a decision conveyed by a Minister in a parliamentary written reply.