India plans exit from oil giant BPCL

Refinery pipes 230x150
By Jonathan Breen
09 Mar 2020

The Indian government is looking to sell its entire majority stake in Bharat Petroleum Corp (BPCL) and has invited expressions of interest from strategic buyers.

BPCL is India’s second largest oil marketing company and third largest refiner. The state holds a 52.98% stake, equal to 1.14bn shares, in the publicly-listed company.

India’s department of investment and public asset management (Dipam) issued a request for EOIs alongside a preliminary information memorandum on March 7. ...

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