Gujarat State Petroleum Corp extends stake sale deadline for third time


Gujarat State Petroleum Corp extends stake sale deadline for third time

Following a lukewarm response, Gujarat State Petroleum Corporation (GSPC) has for the third time this year extended the bid-submission deadline for 12 hydrocarbon blocks it has put up for auction.

The Gujarat government company, which is on a debt reduction path, is banking on central PSUs such as Oil and Natural Gas Corporation Ltd, GAIL (India) Ltd, Hindustan Petroleum Corporation Ltd (HPCL), and Bharat Petroleum Corporation Ltd (BPCL) to participate in the bidding for these onshore and offshore blocks, said two state government officials privy to the matter.

These companies are likely to get board approval for bidding in these blocks next month after which they will submit their bids, the officials said. Read more

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