Initial bids for BPCL privatisation closes on Monday, super majors unlikely to bid

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Initial bids for privatisation of Bharat Petroleum Corp Ltd (BPCL) will close on Monday

Initial bids for privatisation of Bharat Petroleum Corp Ltd (BPCL) will close on Monday amid indications of super majors UK’s BP Plc, Total of France and Saudi Aramco unlikely to bid.

The government, which is selling its entire 52.98 percent stake in India’s second largest oil refining and marketing company, had on four occasions extended the date of putting in the preliminary expression of interest (EoI). The current deadline is November 16.

Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey had last month said.

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