In order to keep the nation's largest liquefied natural gas importer a private firm.

The Oil Ministry has rejected public sector oil companies' plan to acquire Asian Development Bank's stake in Petronet LNG so as to keep the nation's largest liquefied natural gas (LNG) importer a private firm. The ADB had on August 23 last year offered to sell its 5.2% stake in Petronet, in which GAIL, IndianOil (IOC), Bharat Petroleum (BPCL) and Oil and Natural Gas Corp (ONGC) hold 12.5% stake each and have a first right of refusal