NEW DELHI: In a move that could speed up the divestment process of state-run oil companies like BPCL, the Union government is considering a proposal to allow up to 100 per cent foreign investment under the automatic route in oil and gas PSUs that have an ‘in-principle’ approval for disinvestment.According to sources, the commerce and industries ministry has floated a draft cabinet note seeking inter-ministerial views on 100 per cent FDI in Oil PSUs. Sources added that according to the draft note, a new clause would be added in the FDI policy under sections covering the petroleum and natural gas sector.
