Engineers India, OIL to jointly bid for BPCL stake in Numaligarh Refinery

The refinery was incorporated on April 22, 1993 and has a 3 million tonnes per annum capacity. It is the largest customer of OIL's crude produced from its North Eastern fields

State-run Oil India (OIL) and Engineers India (EIL) will jointly bid for acquiring Bharat Petroleum Corporation’s (BPCL’s) 61.65 per cent stake in Numaligarh Refinery (NRL).

An EIL statement said that OIL would be the leader in the consortium, while EIL would take a minority share.

An OIL statement said: “The bid will be submitted through a formal process. The exact percentage of the stake of OIL and EIL will depend on the extent of Right of First Offer (ROFO), to be exercised by the Government of Assam that already holds 12.35 per cent stake in NRL.”

The refinery was incorporated on April 22,