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State-run Bharat Petroleum Corporation on Monday said it will acquire a 40 per cent equity stake in Tiki Tar and Shell India for Rs 85 crore in cash, as it seeks to expand its presence in India's fast-growing value-added bitumen market. The acquisition, which has received approval from the Department of Investment and Public Asset Management (DIPAM), is expected to be completed within 90 days, Bharat Petroleum Corporation Ltd (BPCL) said in a regulatory filing. The transaction is not a related-party deal. Incorporated in October 2019, Tiki Tar and Shell India Pvt Ltd (TTSIPL) manufactures and markets bitumen and bituminous products used in highways and airport runways. Its portfolio includes VG Grade Bitumen, Polymer Modified Bitumen (PMB), Crumb Rubber Modified Bitumen (CRMB), and emulsions. The company also exports to Nepal, Bhutan and Bangladesh. BPCL said the investment aligns with its strategy to tap growing demand for value-added bitumen driven by India's infrastructure ...
S&P Global Ratings on Wednesday said profit margins of oil marketing companies like IOC, BPCL and HPCL, could suffer as they are likely to keep retail prices of petrol and diesel unchanged to curb inflationary pressures. Oil prices have risen since the start of the US-Iran war with crude rising to over USD 100 per barrel earlier this week as the Strait of Hormuz, which handles about a fifth of the global crude oil and liquified natural gas (LNG) flows, remained effectively closed. Crude prices have fallen to USD 88 a barrel on Wednesday. S&P Global Ratings have recently revised its 2026 average price assumption for Brent crude oil prices by USD 5 to USD 65. The US-based rating agency said India will remain dependent on maritime routes to fulfil its crude needs, but there is some scope for diversification as the country has a history of buying oil from outside Asia, such as from Russia and South America. Purchases from Russia currently stand at 1.1 million bpd, while that from .