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OIL, IOC may get Numaligarh refinery as govt 'wants to keep it' with a PSU

A major reason why the government kept NRL outside the strategic sale of BPCL was its importance to the Assam Accord

Shine Jacob  |  New Delhi 

The strategic sale of 53.29 per cent in Bharat Petroleum Corporation (BPCL) would be done without Numaligarh Refi-nery (NRL), Finance Minister Nirmala Sitharaman said on Wednesday.

So, the first hurdle before the government in the strategic sale of BPCL, for which it is running against time, would be the fast demerger of the Northeast-based refinery. BPCL holds 61.65 per cent in NRL and analysts say BPCL’s sale without NRL is likely to have an impact of Rs 40 per share. “The challenge before the government will be to do the valuation of NRL first, and that is likely to ...

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First Published: Thu, November 21 2019. 18:23 IST
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