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 shake up a sector that’s long been dominated by state-run firms, the people said, asking not to be identified as the plan is not public. Prime Minister Narendra Modi’s government has set a record target of raising 1.05 trillion rupees in the current fiscal year from sale of state firms. An earlier attempt to sell state refiners Hindustan Petroleum Corp. to a single investor and Bharat Petroleum to the public was stalled by a Supreme Court order in 2003 following protests by labor and political groups.

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History of this topic

Bharat Petroleum net profit surges by 168% to ₹6,780 crore in Q4 2023
1 year, 7 months ago

Bharat Petroleum net profit surges by 168% to ₹6,780 crore in Q4 2023

Hindustan Times  

Oil marketing company Bharat Petroleum Corporation has posted a 168 per cent growth in its net profit to ₹6,780 crore for the quarter ended March 31, 2023, against ₹2,559 crore in the corresponding quarter the previous fiscal year. Revenue from operations in the quarter under review surged 8 per cent to ₹1.33 lakh crore, against ₹1.23 lakh crore in the …

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 …

This Oil Stock has Potential to Grow 37 per cent in a Year. Know Details
2 years, 11 months ago

This Oil Stock has Potential to Grow 37 per cent in a Year. Know Details

News 18  

Ekmay Global Financial Services Ltd. has ‘add’ call on Bharat Petroleum Corporation with a target price of Rs 515. In its research report, the brokerage said that in a time frame of one year Bharat Petroleum Corporation Ltd. price can reach defined target. Bharat Petroleum Corporation Ltd. key products/revenue segments include petroleum products, oil crude, other operating revenue, subsidy for …

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 …

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 …

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 …

Oil marketing companies shares drop up to 13% post govt hikes excise duty on petrol, diesel
4 years, 8 months ago

Oil marketing companies shares drop up to 13% post govt hikes excise duty on petrol, diesel

Firstpost  

Shares of oil marketing companies – Indian Oil Corporation Ltd, Bharat Petroleum Corporation Ltd and Hindustan Petroleum Corporation Ltd – on Wednesday plunged up to 13 percent, a day after a hike in excise duty on petrol and diesel New Delhi: Shares of oil marketing companies – Indian Oil Corporation Ltd, Bharat Petroleum Corporation Ltd and Hindustan Petroleum Corporation Ltd …

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 …

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 …

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 …

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. …

Government plan to privatise BPCL needs Parliament nod
5 years, 3 months ago

Government plan to privatise BPCL needs Parliament nod

Live Mint  

New Delhi: The government is considering a proposal to sell India's second-largest state refiner and fuel retailer BPCL to foreign and private firms but the privatisation plan will need a prior nod of Parliament, officials said. Privatisation of BPCL will not just shake up fuel retailing sector long dominated by state-owned firms but also help meet at least a third …

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