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BPCL to sell Numaligarh Refinery stake for Rs 9,876 cr

In keeping with the Assam Peace Accord, the government had decided to keep Numaligarh Refinery Ltd (NRL) in the public sector. As part of this, BPCL was to sell its entire 61.65 per cent stake to state-owned firms.

BPCL to sell Numaligarh Refinery stake for Rs 9,876 cr

BPCL to sell Numaligarh Refinery stake for Rs 9,876 cr
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OIL along with Engineers India Ltd bid for BPCL s stake in Numaligarh Refinery

OIL along with Engineers India Ltd bid for BPCL s stake in Numaligarh Refinery telegraphindia Oil India Ltd (OIL), in consortium with Engineers India Ltd (EIL), have placed their bid for acquiring 61.65 per cent stake of Bharat Petroleum Corporation Ltd (BPCL) in Numaligarh Refinery Ltd (NRL), persons privy to the development said. The NRL has been carved out from the BPCL and is not part of assets that is being sold as part of its privatisation plan. With the submission of the bid, the transaction for Numaligarh refinery may now be targeted for closure before the end of March. An OIL statement had earlier said that its bid for the NRL will be submitted through a formal process. The exact percentage of the stake of the OIL and the EIL will depend on the extent of Right of First Offer (ROFO) to be exercised by the Assam government which already holds 12.35 per cent stake in the NRL.

REFINERY NEWS ROUNDUP: Maintenance and closures in focus in Asia-Pacific | Hellenic Shipping News Worldwide

REFINERY NEWS ROUNDUP: Maintenance and closures in focus in Asia-Pacific | Hellenic Shipping News Worldwide
hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.

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