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Fact Check: Has Govt Of India Sold Indian Oil To Adani Group? Here’s The Truth

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A picture of a gas station with IndianOil – Adani Gas’ branding is being shared on social media with a claim that Indian Oil Corporation, a Public Sector Undertaking (PSU) and India’s diversified, integrated energy major with presence in almost all the streams of oil, gas, petrochemicals and alternative energy sources, has been sold to Adani Group headed by industrialist Gautam Adani.

A Facebook user shared a post with a Hindi caption, “बिक गया इंडियन ऑइल”

(Translation: Indian Oil is sold out)

Here’s the link to the above post. Check similar posts here, here, and here.

We found similar posts on Twitter as well.

Here’s the link to the above post. Check another similar tweet here.

Fact Check

NewsMobile fact-checked the claim and found it to be false.

Firstly, we googled the IndianOil-Adani Gas, as written on the station in the viral image, which led us to a website (www.ioagpl.com).

On digging further, it was revealed that the IndianOil-Adani Gas is a joint venture company of Indian Oil Corporation Limited (IOC) – a Maharatna Company of Government of India and Adani Gas Ltd. (AGL).

Here’s the link to the above information.

We then checked the Indian Oil Corporation Limited (IOCL) website and found the same information that IOCL is working in a Joint Venture with Adani Gas Limited. In fact, IOCL is part of multiple joint ventures with several other private companies also.

This joint venture between IOCL and Adani Gas Limited (AGL) engages in the business of carrying out city gas distribution.

Hence, from the above information, it is clear that Indian Oil has not been sold. Thus the claim in the viral post is FALSE.

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