Vedanta Group submits EOI to buy government's entire stake in BPCL

According to multiple sources, major players like Reliance Industries, Saudi Aramco, Rosneft and Exxon Mobil had shied away from the bidding process

Anil Agarwal-led Vedanta Group said on Wednesday that it has submitted an expression of interest (EoI) for buying 52.98 per cent government stake in Bharat Petroleum Corporation (BPCL). 

“Vedanta’s EoI for BPCL is to evaluate potential synergies with our existing oil and gas business. The EoI is at a preliminary stage and is exploratory in nature,” said a company spokesperson. 

At least three to four players have reportedly submitted EoIs for the privatisation process of BPCL. The deadline for submission was Monday, but the government has not officially revealed any names. 

Vedanta has been venturing into new business segments ever since it bought