BPCL stake sale: No reason to believe Numaligarh excise duty benefit will be withdrawn, firm says


BPCL stake sale: No reason to believe Numaligarh excise duty benefit will be withdrawn, firm says

A few months before the union government sells its stake in Bharat Petroleum (BPCL), executives at the company told analysts that there is no sun-set clause around excise duty benefits enjoyed by Numaligarh Refinery (NRL) and the company does not believe excise duty benefits enjoyed by NRL will be withdrawn.

Replying to a question on whether the company’s investment in expanding NRL’s refining capacity is contingent on government’s commitment on continuity of excise duty benefits, a BPCL executive said: “There is no sunset clause for NRL benefits. NRL margins are robust without concessions; they have the best margins among other refiners in the country, about $10 per barrel in Q2. Read More

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