BPCL sale could help government achieve goal

BPCL sale could help government achieve goal

Notwithstanding the government’s stance on completing the privatisation of public sector Bharat Petroleum Corporation Ltd (BPCL) by March 2020, there is a fear that few companies, including global majors, would be willing to mobilise as much as Rs 1 lakh crore to complete the transaction.

As far as the domestic fuel retailers are concerned, oil minister Dharmendra Pradhan hinted on Thursday that Indian Oil might not be allowed to bid for BPCL, while industry officials indicated that companies from Russia and the Gulf could be targeted to get the necessary investment.

“This could be done through government-to-government talks as most oil companies in the region are state-controlled,” said an oil industry official. Read More

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