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Bharat Petroleum divestment process begins amid coronavirus lockdown

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

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The sale of NRL to a state-run entity is seen as a first step towards the divestment process of BPCL.

3 min read Last Updated : Apr 21 2020 | 12:40 AM IST

Despite the Covid-19 lockdown, the central government is keeping the ball rolling for divestment of its stake in Bharat Petroleum Corporation (BPCL). The Assam government has given a no-objection certificate (NOC) for the sale of 61.65 per cent BPCL stake in Numaligarh Refinery (NRL).

The sale of NRL to a state-run entity is seen as a first step towards the divestment process of BPCL. The state has given the NOC to the deal on the condition that another 13.65 per cent stake in NRL will be sold to Assam, increasing its total stake in the project from 12.35 to 26

Topics : Coronavirus Numaligarh Refinery oil BPCL OMCs Oil BPCL oil marketing companies

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