OIL & GAS

BPCL divestment process may face resistance from Kerala govt, employees

The divestment process of Bharat Petroleum Corpo­ration (BPCL) is likely to face resistance from the Government of Kerala and employees of the oil and gas company examining legal options. A few employee unions have already approached the Bombay High Court with two writ petitions, in which they argue that if BPCL is allowed to be sold by stock market share value, the loss to the government exchequer will be to the tune of Rs 4.5 trillion.

On July 22, the unions further moved court with a plea for immediate admission and hearing of the writ petition.

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