Processing .....please wait.. 
The article has been forwarded.... 
ONGC to bid for BPCL, HPCL
NEW DELHI: "With acquisition (of BPCL or HPCL) we can go into transport fuel marketing without a long gestation period and against potential competitors who pose a formidable entry barrier," Raha said in New Delhi.
ONGC chairman and managing director Subir Raha said the exploration firm would certainly be interested in either of the PSUs to become a fully integrated oil firm.
His statement comes within a day of an informal meeting of senior Cabinet ministers at which the row over divestment of two oil PSUs was resolved.
Though it is not clear what decision the meeting chaired by Prime Minister Atal Bihari Vajpayee took, it is widely believed that the ministers, including Deputy Prime Minister L K Advani, defence minister George Fernandes, disinvestments minister Arun Shourie and petroleum minister Ram Naik have cleared strategic sale of government shareholding in HPCL while opting for a public offering of state's share in BPCL.
Raha said it remained to be seen if government would allow PSUs to bid, contrary to the stand of disinvestments ministry of barring all state-run firms from the process.
"If allowed, we would certainly be interested," he said.