Oil BPCL

Assam gives NOC for sale of 61.65% stake in Numaligarh Refinery, a BPCL subsidiary

BPCL has been developing the technology since FY16 and reached commercial production stage two years ago

HPCL may benefit more from improvement in marketing margins

Meanwhile BPCL has been the biggest customer of US crude since the last two years, when that country lifted the ban on exporting crude for the first in decades

The government will build in certain protection to employees in the share sale agreement, DIPAM Secretary Tuhin Kanta Pandey said

The government plans to sell its majority stake in the oil marketeer which can help it raise over Rs 70,000 crore

This comes at a time of increasing imports from the US, which rose from 1.9 mt in 2017-18 to 6.2 mt in 2018-19. In H1FY20, India imported 5.4 mt from the US.

Here are some of the issues on the table

In part indication of timelines for privatisation of India's second biggest state oil refiner, the government has set a 50-day deadline for an outside 'asset valuer' to carry out the valuation of all assets of Bharat Petroleum Corp Ltd (BPCL), a process once completed will trigger invitation of price bids from potential acquirers. The Cabinet Committee on Economic Affairs (CCEA) had on November 20 given a go-ahead for sale of government's entire stake in BPCL, Shipping Corporation of India Ltd (SCI), power generator THDC India Ltd (THDCIL) and North Eastern Electric Power Corp Ltd (NEEPCO) to a strategic investor along with management control. It had also approved sale of 30.8 per cent out of its 54.8 per cent interest in Container Corp of India Ltd (Concor). The stake sale will follow a two-stage process of first inviting expression of interest (EoI) from potential bidders who will after due diligence will be asked to submit price bids in the second part, officials said. In the ...

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The finance minister Nirmala Sitharaman has said that government stake sale in the company will be completed by March next year.

It is being speculated that the Union Cabinet may take up a proposal to privatise BPCL as early as next week.

Bharat PetroResources Ltd (BPRL), an exploration and production subsidiary of BPCL, had in August 2008 bought a 10 per cent stake in Area-1 Offshore of the Rovuma Block

Last week, international credit rating agency Moody's warned of downgrading Bharat Petroleum Corporation (BPCL) to Ba1, if the government goes ahead with privatisation.

Nifty Energy Index has been consolidating in the range of 14,730 - 13,750 since August. The formation seems like triple-bottom and a breakout would mean can take the index to 15,000 mark

India is considering a plan to sell the nation's second-largest state refiner and fuel retailer to a global oil company, Bloomberg reported

Oil markets struggled to find their footing on Wednesday after plunging by 7 per cent the previous session, with surging supply and the spectre of faltering demand keeping investors on edge.