The long and winding road to BPCL privatisation

The long and winding road to BPCL privatisation

With the government yet to officially reveal the fine-print of the planned strategic sale of its stake in Bharat Petroleum Corp (BPCL) the jury is still out on the benefits of the move and the pace at which the centre will be able to complete the disinvestment process considering the mammoth Rs 1.05 lakh crore disinvestment target for the current fiscal.

The country’s second-largest oil marketing company operates four refineries at Mumbai, Kochi, Bina and Numaligarh with a combined capacity to convert 38.3 million tonne of crude oil into fuel. It owns 15,078 petrol pumps and 6,004 LPG distributors across the country.

The Maharatna firm employs around 12,000 people and clocked a net profit of Rs 7,132 crore last financial year on a total income of a staggering Rs 3.4 lakh crore. Read More

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