BPCL likely to sell stake in Numaligarh Refinery through bidding

While OIL holds 26 per cent in NRL, BPCL and the Assam government have 61.65 per cent and 12.35 per cent equity, respectively

Bharat Petroleum Corporation’s (BPCL’s) share in the Numaligarh Refinery (NRL) is likely to be sold through a bidding process to a government-owned entity.
 
The companies that are expected to participate in the bidding include Oil India (OIL), Indian Oil Corporation (IOC), and Oil and Natural Gas Corporation (ONGC). This sale will precede the divestment of BPCL, which is now expected to happen in 2020-21 and not in this fiscal year as planned earlier. The sale process for NRL got delayed initially owing to the protests against Citizenship Amendment Act (CAA) in Assam, which also led to the shutdown of