OIL & GAS

BPCL divestment: Govt was not expecting bids from Saudi Aramco & RIL

By CNBC

The Narendra Modi government is not expecting bids from giants like Saudi Aramco and Reliance Industries Ltd (RIL) for the sale of its entire 52.98 percent stake in India’s second-biggest oil refiner Bharat Petroleum Corp Ltd (BPCL), sources privy to the developments told CNBC-TV18.

According to multiple people familiar with the development, the government feels that Saudi Aramco and RIL is diversifing from the oil sector that BPCL is into.

Source
CNBC
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