BPCL stake sale: Indian Oil likely to bid for govt's share in absence of global players
5 years, 2 months ago

BPCL stake sale: Indian Oil likely to bid for govt's share in absence of global players

Firstpost  

The government has 53.3 percent stake in the BPCL which the bidders may buy either on their own or through a consortium. State-run Indian Oil Corporation is reportedly planning to bid for the government’s stake in Bharat Petroleum Corporation in a situation where no global players evince interest for the stake and the government agrees to reduce the quantum shares on offer in the company, said a media report. BPCL would fit well into the scheme of things of IOC, and together the entity would become a powerhouse of refining and retailing activity, which would give tough competition to other players in the field, including the global giants eyeing the Indian market, reported IANS quoting official sources. So, if the BPCL stake sale does not evince interest from MNCs, as an alternative, the government may sell half or around 26-27 percent of its share to another PSU such as IOC, reported IANS citing official sources. Privatisation of BPCL will not just shake up the fuel retailing sector long dominated by state-owned firms but also help meet at least a third of the government’s Rs 1.05 lakh crore disinvestment target.

Indian Stake Ioc Bpcl  company  share  indian  players  sale  oil  stake  sector  rs  retailing  govts  global  ioc  likely  bpcl

History of this topic

Indian oil firms explore using $600 million stranded in Russia to buy oil
1 year, 4 months ago

Indian oil firms explore using $600 million stranded in Russia to buy oil

Firstpost  

Soon after Russia’s invasion of Ukraine in February last year, several major Russian banks were banned from the Society for Worldwide Interbank Financial Telecommunication financial transaction processing system, constricting Moscow’s ability to access the global payments system. Indian oil firms are exploring the possibility of using approximately $600 million of their stranded dividend income in Russia to buy oil from …

Govt Proposes To Sell Up To 3.5% Stake In Hindustan Aeronautics Ltd: Report
1 year, 9 months ago

Govt Proposes To Sell Up To 3.5% Stake In Hindustan Aeronautics Ltd: Report

News 18  

India is planning to sell up to 3.5% stake in aerospace and defence company Hindustan Aeronautics Ltd this week in a deal that could fetch the government 28.67 billion rupees, an exchange filing showed on Wednesday. So far, the government has mopped up 311.1 billion rupees by selling its shares in state-run firms as against its target of 500 billion …

BPCL signs pact with Brazilis Petrobras to diversify crude oil sourcing
2 years, 3 months ago

BPCL signs pact with Brazilis Petrobras to diversify crude oil sourcing

The Hindu  

State-owned Bharat Petroleum Corporation Ltd on Saturday said it has signed an agreement with Brazilian national oil company Petrobras for sourcing crude oil from the Latin American nation as part of plans to diversify its sourcing needs. Company chairman and managing director Arun Kumar Singh and Petrobras CEO Caio Paes de Andrade signed a memorandum of understanding in Brazil, BPCL …

Why govt is not sure about the BPCL stake sale this year
2 years, 7 months ago

Why govt is not sure about the BPCL stake sale this year

Live Mint  

NEW DELHI : The government is unlikely to restart the disinvestment process for Bharat Petroleum Corp. Ltd this year because of the stock market volatility and soaring energy prices, senior officials said. The government decided to call off BPCL’s disinvestment last month after interested parties could not continue due to prevailing conditions in global energy markets and the pandemic. The …

BPCL Privatisation: Govt Calls Off Present Expression of Interest Process To Sell 53% Stake
2 years, 7 months ago

BPCL Privatisation: Govt Calls Off Present Expression of Interest Process To Sell 53% Stake

News 18  

The government has called off the current expression of interest process for BPCL’s privatisation, which was dubbed as India’s biggest ever, as the majority of bidders have expressed their “inability to continue in the current process of disinvestment of BPCL”, according to a notification by the DIPAM. Owing to prevailing conditions in the global energy market, the majority of QIPs …

Govt Drops Offer To Sell 53 Pc Stake In BPCL As Most Bidders Express Inability To Participate
2 years, 7 months ago

Govt Drops Offer To Sell 53 Pc Stake In BPCL As Most Bidders Express Inability To Participate

ABP News  

New Delhi: The government on Thursday withdrew its offer to sell its entire 52.98 per cent stake in BPCL, saying that majority of bidders have expressed their inability to participate in the current privatisation process due to prevailing conditions in the global energy market. The government had planned to sell its entire 52.98 per cent stake in Bharat Petroleum Corporation …

India weighs selling part of BPCL instead of full stake: Report
2 years, 7 months ago

India weighs selling part of BPCL instead of full stake: Report

Live Mint  

India is considering selling up to a quarter of state-run refiner Bharat Petroleum Corp Ltd after failing to attract suitors for the whole firm, two officials said, as the government's divestment programme moves slower than expected. New Delhi is considering inviting bids for a 20%-25% stake in BPCL, instead of an outright sale of its entire 52.98% holding, the two …

Govt asks state-run petroleum firms to consider buying Russian oil assets
2 years, 8 months ago

Govt asks state-run petroleum firms to consider buying Russian oil assets

The Hindu  

The Union government has asked the state-run energy companies to evaluate the possibility of buying European oil major BP’s stake in sanctions-hit Russian firm Rosneft,” two people familiar with the matter said. The oil ministry last week conveyed its intent to ONGC Videsh Limited, Indian Oil Corporation, Bharat Petro Resources Limited, Hindustan Pertoleum’s subsidiary Prize Petroleum Limited, Oil India Limited …

BPCL Shares Tank 5% After Vedanta's Anil Agarwal Says Disinvestment Being Reviewed
2 years, 8 months ago

BPCL Shares Tank 5% After Vedanta's Anil Agarwal Says Disinvestment Being Reviewed

News 18  

BPCL shares drop as much as 5.4 per cent to Rs 372.3 apiece on BSE in Monday’s trade, after Vedanta’s Anil Agarwal says the BPCL disinvestment process is being reviewed. The central government had a plan to sell its entire 53 per cent stake in BPCL to private players in 2021-22, but after delays, this target was shifted to 2022-23. …

BPCL Disinvestment: Govt Not To Go Ahead With Current Plan; To Draw New Strategy, Says Anil Agarwal
2 years, 8 months ago

BPCL Disinvestment: Govt Not To Go Ahead With Current Plan; To Draw New Strategy, Says Anil Agarwal

News 18  

Vedanta Resources Chairman Anil Agarwal said the government has decided not to go ahead with Bharat Petroleum Corporation Ltd’s privatisation plan and has told its suitors that it will revise the plan and come to market. Recently, Minister of State for Finance Bhagwat Karad told in the Rajya Sabha that the disinvestment process of oil marketing firm Bharat Petroleum Corporation …

BPCL to invest ₹10,000 crore in six new city gas networks
2 years, 11 months ago

BPCL to invest ₹10,000 crore in six new city gas networks

The Hindu  

Bharat Petroleum Corporation Limited on Tuesday said it will invest ₹10,000 crore over the next five years in setting up city gas distribution networks in the cities for which it secured licences in the latest bidding round. BPCL won licences to retail CNG to automobiles and supply piped natural gas for cooking purposes in six geographical areas or GAs bid …

India overhauls petroleum reserve policy to boost private interest: Report
3 years, 5 months ago

India overhauls petroleum reserve policy to boost private interest: Report

Live Mint  

India has decided to commercialise half of its current strategic petroleum reserves as the nation looks to enhance private participation in the building of new storage facilities, two government sources told Reuters on Thursday. Private entities taking storage on lease will be allowed to re-export 1.5 million tonnes of oil stored in the caverns in the case of Indian companies …

Union Cabinet Likely to Approve 100% FDI in BPCL Today
3 years, 5 months ago

Union Cabinet Likely to Approve 100% FDI in BPCL Today

News 18  

The Union Cabinet is likely up to approve 100 per cent foreign direct investment in the Bharat Petroleum Corporation, according to sources at CNBC Awaaz. The government, which owns a 52.98 per cent stake in the company is rolling out the divestment process of its holdings in an effort to raise R 1.75 lakh crore in proceeds in FY22. As …

Disinvestment: BPCL to sell Numaligarh Refinery stake for ₹9,876 cr
3 years, 10 months ago

Disinvestment: BPCL to sell Numaligarh Refinery stake for ₹9,876 cr

Hindustan Times  

Privatisation-bound Bharat Petroleum Corporation Ltd on Monday said it will exit Numaligarh refinery in Assam by selling its entire stake to a consortium of Oil India Ltd and Engineers India Ltd for ₹9,876 crore. A consortium of Oil India Ltd, Engineers India Ltd, and the Government of Assam expressed interest in buying the stake and the BPCL board on Monday …

Govt Says BPCL, Air India Stake Sale Will be Completed by September, LIC IPO Post October
3 years, 11 months ago

Govt Says BPCL, Air India Stake Sale Will be Completed by September, LIC IPO Post October

News 18  

The initial public offering of India’s largest insurance company LIC is likely after October this year, a top official said on Tuesday laying out the government’s divestment calendar that includes completing the sale of flag carrier Air India and oil firm BPCL within the first half of the next fiscal. Targeting to raise Rs 1.75 lakh crore from the asset …

BPCL, Air India stake sale by September; LIC IPO post October, says DIPAM Secretary
3 years, 11 months ago

BPCL, Air India stake sale by September; LIC IPO post October, says DIPAM Secretary

The Hindu  

The initial public offering of India's largest insurance company LIC is likely after October this year, a top official said on Tuesday laying out the government's divestment calendar that includes completing the sale of flag carrier Air India and oil firm BPCL within the first half of the next fiscal. Targeting to raise ₹1.75 lakh crore from the asset sale …

Adequate interest for BPCL disinvestment, no need to alter sale process: Govt
4 years, 1 month ago

Adequate interest for BPCL disinvestment, no need to alter sale process: Govt

India TV News  

The government has said that adequate interest has been received for the strategic disinvestment of public sector refiner Bharat Petroleum Corporation Ltd with several suitors submitting expressions of interest. With this, there is no need to either defer the current strategic sale process or look for alternatives, as after the scrutiny of the eligibility of the bidders, the process would …

Vedanta Group submits expression of interest in purchasing Government of India's stake in BPCL
4 years, 1 month ago

Vedanta Group submits expression of interest in purchasing Government of India's stake in BPCL

Firstpost  

The Government of India is looking to sell its entire 52.98 percent stake in BPCL. The last date to put forward an expression of interest was 16 November New Delhi: Vedanta Group on Wednesday confirmed putting in a preliminary expression of interest for buying government’s stake in Bharat Petroleum Corp Ltd. Vedanta’s interest in India’s second largest fuel retailer is …

BPCL Privatisation: Govt Receives Multiple Bids for Stake Sale; No Supermajor in Race
4 years, 1 month ago

BPCL Privatisation: Govt Receives Multiple Bids for Stake Sale; No Supermajor in Race

News 18  

New Delhi: The government on Monday received 'multiple' bids for buying out its stake in India's second-biggest fuel retailer BPCL but billionaire Mukesh Ambani's Reliance Industries as well as supermajors Saudi Aramco, BP and Total did not make a bid. Tuhin Kanta Pandey, Secretary, Department of Investment and Public Asset Management, which is handling the sale, tweeted that the transaction …

Rosneft, Aramco unlikely to bid for Bharat Petroleum stake: Report
4 years, 3 months ago

Rosneft, Aramco unlikely to bid for Bharat Petroleum stake: Report

Live Mint  

Rosneft and Saudi Aramco are unlikely to bid in the privatisation of Indian refiner Bharat Petroleum Corp, sources familiar with the matter said, as low oil prices and weak demand curb their investment plans. Russia's Rosneft had expressed an interest in buying the federal government's 53.29% stake in Bharat Petroleum when its chief executive Igor Sechin visited New Delhi in …

Govt extends BPCL bid deadline to November 16
4 years, 3 months ago

Govt extends BPCL bid deadline to November 16

India TV News  

The government has for the fourth time extended the deadline for bidding for privatisation of India's second-biggest oil refiner Bharat Petroleum Corp Ltd by one and a half months to November 16. While the Cabinet, in November last year, had approved the sale of the government's entire 52.98 per cent stake in BPCL, offers seeking expression of interest or bids …

Russia's Rosneft, Saudi Aramco Unlikely to Bid for BPCL Privatisation: Report
4 years, 3 months ago

Russia's Rosneft, Saudi Aramco Unlikely to Bid for BPCL Privatisation: Report

News 18  

Oil majors Rosneft and Saudi Aramco are unlikely to bid in the privatisation of Indian refiner cCorp, sources familiar with the matter said, as low oil prices and weak fuel demand curb their investment plans. “This is not the time to invest in refining… demand would be there for oil to chemicals and not conventional products,” one of the sources …

Govt to Decide on Subsidised Cooking Gas by BPCL Before Financial Bid Stage
4 years, 3 months ago

Govt to Decide on Subsidised Cooking Gas by BPCL Before Financial Bid Stage

News 18  

The issue of continuation of cooking gas subsidy will be considered before inviting financial bids for BPCL privatisation, Parliament was informed on Saturday. However, the interest of LPG customers of BPCL would be taken into consideration while deciding on the subsidy issue, Minister of State for Finance Anurag Singh Thakur said in a written reply to the Lok Sabha. The …

BPCL Privatisation: Govt to Provide Rules on Employee Protection, Asset Stripping Later
4 years, 4 months ago

BPCL Privatisation: Govt to Provide Rules on Employee Protection, Asset Stripping Later

News 18  

The government will provide guidance on employee protection, asset stripping and business continuity in Bharat Petroleum Corp Ltd to potential acquirers of the company only at a later stage of bidding, according to privatisation rules issued by the disinvestment department. On a query on restrictions relating to employee protection, asset stripping, business continuity and lock-in of shares, DIPAM said, “This …

Govt extends BPCL bid deadline to September 30
4 years, 5 months ago

Govt extends BPCL bid deadline to September 30

India TV News  

The government has for the third time extended the deadline for bidding for privatisation of India's second-biggest oil refiner Bharat Petroleum Corp Ltd by two months to September 30.new d While the Cabinet had in November last year approved the sale of government's entire 52.98 per cent stake in BPCL, offers seeking expression of interest or bids showing interest in …

India’s biggest asset sale to attract China-wary oil majors
4 years, 7 months ago

India’s biggest asset sale to attract China-wary oil majors

Live Mint  

The growing disquiet over China could see oil investors headed to India, said a top executive at a refiner that Prime Minister Narendra Modi’s government has put up for sale. “Global companies are cutting down on capex, preserving cash now, but Exxon Mobil, Shell, BP or Saudi Aramco aren’t going to perish,” Vijayagopal said. “When they come back after demand …

Centre invites bids for sale of Bharat Petroleum Corporation Ltd.
4 years, 10 months ago

Centre invites bids for sale of Bharat Petroleum Corporation Ltd.

The Hindu  

The government on Saturday invited bids for the sale of its entire 52.98% stake in country’s second biggest State-owned oil refiner Bharat Petroleum Corporation Limited. “The government’s plan to sell its stake in BPCL could be delayed, as many global oil majors that have been looking at the company as an outlet to refine their crude may revaluate their bids …

BPCL disinvestment: Govt invites bids to sell its 52.98 percent stake
4 years, 10 months ago

BPCL disinvestment: Govt invites bids to sell its 52.98 percent stake

India TV News  

In another Public sector companies disinvestment drive, the government on Saturday invited bids to sell its entire 52.98 percent stake in India's second-biggest oil refiner Bharat Petroleum Corp Ltd. "The Government of India is proposing strategic disinvestment of its entire shareholding in BPCL comprising 114.91 crore equity shares, which constitutes 52.98 percent of BPCL's equity share capital, along with transfer …

BPCL disinvestment: Vedanta chief Anil Agarwal says state-run company's valuation high, evaluating bid; oil PSU's m-cap at 92,920 cr
4 years, 10 months ago

BPCL disinvestment: Vedanta chief Anil Agarwal says state-run company's valuation high, evaluating bid; oil PSU's m-cap at 92,920 cr

Firstpost  

The government plans to sell its entire 52.98 percent stake in BPCL that will give buyers ready access to 14% of India’s oil refining capacity and about one-fifth of the fuel market share in the world’s fastest-growing energy market. “The bid document is not yet out and we will carefully evaluate bidding once the offer document is out.” He said …

What the BPCL stake sale says about the future of India’s disinvestment policy | The Hindu Parley podcast
5 years ago

What the BPCL stake sale says about the future of India’s disinvestment policy | The Hindu Parley podcast

The Hindu  

Last month, the Union Cabinet gave its approval for the privatisation of Bharat Petroleum Corporation Limited, a profitable Maharatna public sector company that does oil refining and marketing. This large-scale disinvestment — the BPCL stake alone is expected to raise around ₹60,000 crore for the Exchequer this year — will certainly ease the fiscal pressures being faced by the country. …

Moody's reviews BPCL rating for downgrade on government sell-off
5 years, 1 month ago

Moody's reviews BPCL rating for downgrade on government sell-off

The Quint  

Mumbai, Nov 26 Moody's Investors Service on Tuesday said it has placed state-run Bharat Petroleum Corp Ltd's rating on review for downgrade after the government decided to privatise the country's company. "The review for downgrade follows the government of India's decision to sell its entire 53.29 per cent stake in BPCL and to transfer management control of the company to …

Privatisation plan may end complex cross-holding in oil PSUs
5 years, 1 month ago

Privatisation plan may end complex cross-holding in oil PSUs

Live Mint  

The government may end the cross-holding structure existing in the oil sector as it looks to further consolidate operations of public sector enterprises and go ahead with its privatisation plan by getting a fair valuation of assets. Consequently, while GAIL and IOC hold 7.84 and 2.45 per cent stake, respectively, in ONGC, ONGC and OIL hold 14.20 and 5.16 per …

BPCL disinvestment: IOC, other PSUs not to bid, hints Dharmendra Pradhan
5 years, 1 month ago

BPCL disinvestment: IOC, other PSUs not to bid, hints Dharmendra Pradhan

Live Mint  

Oil Minister Dharmendra Pradhan on Thursday hinted that public sector firms such as Indian Oil Corporation may not be allowed to bid for buying government stake in Bharat Petroleum Corporation Ltd, for which a buyer may have to shell out as much as ₹90,000 crore. It also approved privatisation of Container Corporation of India while also giving nod to paring …

BPCL, Shipping Corp of India shares hit 52-week high after privatisation move, pares gain later
5 years, 1 month ago

BPCL, Shipping Corp of India shares hit 52-week high after privatisation move, pares gain later

Firstpost  

New Delhi: Shares of Bharat Petroleum Corp Ltd, Shipping Corp of India and Container Corp of India showed mixed trend on Thursday after the Cabinet approved the sale of government’s stake in these companies. In the biggest privatisation drive ever, the Union Cabinet on Wednesday approved the sale of government’s stake in blue-chip oil firm BPCL, shipping firm SCI and …

Govt gives go-ahead to biggest privatisation drive; to sell stake in BPCL, SCI, Concor to help bridge a widening fiscal gap
5 years, 1 month ago

Govt gives go-ahead to biggest privatisation drive; to sell stake in BPCL, SCI, Concor to help bridge a widening fiscal gap

Firstpost  

In the biggest privatisation drive-ever, the Union Cabinet on Wednesday approved sale of government’s stake in blue-chip oil firm BPCL, shipping firm SCI and onland cargo mover Concor New Delhi: In the biggest privatisation drive-ever, the Union Cabinet on Wednesday approved sale of government’s stake in blue-chip oil firm BPCL, shipping firm SCI and onland cargo mover Concor as well …

Centre approves major privatisation drive; Nirmala Sitharaman says govt to sell stake in BPCL, SCI and Concor
5 years, 1 month ago

Centre approves major privatisation drive; Nirmala Sitharaman says govt to sell stake in BPCL, SCI and Concor

Firstpost  

The Union Cabinet on Wednesday approved sale of government’s stake in blue-chip oil firm BPCL, shipping firm SCI and onland cargo mover Concor. New Delhi: In the biggest privatisation drive ever, the Union Cabinet on Wednesday approved sale of government’s stake in blue-chip oil firm BPCL, shipping firm SCI and onland cargo mover Concor, as well as decided to cut …

Govt to sell BPCL in mega push for privatization
5 years, 1 month ago

Govt to sell BPCL in mega push for privatization

Live Mint  

New Delhi:The cabinet committee on economic affairs on Wednesday cleared one of the government’s largest asset-sale exercises involving five companies, including the privatization of Bharat Petroleum Corp. Ltd and Shipping Corp. of India. Other companies in which the government will sell stakes include Container Corp, of India Ltd, THDC India Ltd and North Eastern Electric Power Corp. Ltd. As part …

Govt considers cutting stake in Indian Oil to below 51%
5 years, 2 months ago

Govt considers cutting stake in Indian Oil to below 51%

Live Mint  

India plans to reduce its stake in Indian Oil Corp. to below 51% while ensuring the government and state-run companies retain control of the nation’s largest oil refiner, people with knowledge of the matter said. India directly holds 51.5% in Indian Oil, and another 25.9% through state-run Life Insurance Corp. of India, and explorers Oil & Natural Gas Corp. and …

Two-phased strategic disinvestment for BPCL likely
5 years, 2 months ago

Two-phased strategic disinvestment for BPCL likely

Live Mint  

New Delhi: The government may consider two-phased disinvestment for public sector oil refiner and retailer Bharat Petroleum Corporation Ltd, if the initial strategic sale of the entire 53.29% government stake in the company fails to get requisite response. Thus, the government may sell half or around 26-27% of its share first and consider complete exit from BPCL at a later …

BPCL privatisation: Saudi Aramco, Rosneft, ExxonMobil among global energy companies likely to bid for govt's stake in state-run oil firm
5 years, 2 months ago

BPCL privatisation: Saudi Aramco, Rosneft, ExxonMobil among global energy companies likely to bid for govt's stake in state-run oil firm

Firstpost  

Privatisation of BPCL will not just shake up the fuel retailing sector long dominated by state-owned firms but also help meet at least a third of the government’s Rs 1.05 lakh crore disinvestment target. Major oil companies in the world have reportedly lined up to bid for the government’s stake in the state-run Bharat Petroleum Corporation Ltd, said media reports. …

Govt mulls selling stake in BPCL to overseas oil company: Report
5 years, 4 months ago

Govt mulls selling stake in BPCL to overseas oil company: Report

Live Mint  

New Delhi: India is considering a plan to sell the nation’s second-largest state refiner and fuel retailer to a global oil company as it explores options to give up its controlling stake in Bharat Petroleum Corp., people with knowledge of the matter said. The government is keen to lure multinational companies in the domestic fuel retailing to boost competition and …

Petronas, Japan's JXTG Holdings may buy stake in Bina oil refinery; BPCL plans to double unit's capacity
5 years, 5 months ago

Petronas, Japan's JXTG Holdings may buy stake in Bina oil refinery; BPCL plans to double unit's capacity

Firstpost  

The Bina plant in central India, capable of processing 156,000 barrels per day of crude oil, is operated by Bharat Oman Refineries Ltd. Mumbai: Malaysia’s Petroliam Nasional Bhd and a consortium led by Japan’s JXTG Holdings Inc are among the companies interested in buying a stake in India’s Bina oil refinery, a source close to the matter said. The Bina …

ONGC eyes upstream linked power generation, refining projects abroad
5 years, 9 months ago

ONGC eyes upstream linked power generation, refining projects abroad

Live Mint  

Mumbai: State-run Oil and Natural Gas Corp. Ltd plans to leverage its units, ONGC Tripura Power Co. Ltd, Hindustan Petroleum Corp. Ltd, and Mangalore Refinery and Petrochemicals Ltd, to win upstream linked electricity generation and refining projects overseas, said a senior company executive. ONGC, which accounts for 73% of India’s oil and gas output, acquired the government’s stake in HPCL …

Shares of IOC, BPCL, HPCL surge as crude prices slumps
6 years, 2 months ago

Shares of IOC, BPCL, HPCL surge as crude prices slumps

Live Mint  

Mumbai: Shares in India’s top three oil marketing companies surged on Wednesday, as investors cheered the slump in global crude oil prices that bode well for the profitability of Indian refiners.India’s biggest state-owned refiner Indian Oil Corp was up 7.81% on the National Stock Exchange, while Bharat Petroleum Corp and Hindustan Petroleum Corp rose 7.44% and 8.57%, respectively. The sharp …

Discover Related