June 16, 2021 3:44 am
The move, initially proposed by the Petroleum Ministry, will be placed before the Cabinet by the Department of Promotion of Industry and Internal Trade (DPIIT). The divestment of the Centre’s 53 per cent stake in BPCL is a key part of the former’s disinvestment target of Rs 1.75 lakh crore for FY22.
May 25, 2021 3:26 pm
BPCL holds 12.5 per cent of shareholding in India's largest liquefied natural gas importer, Petronet, and a 22.5 per cent stake in city gas retailer, IGL. It is a promoter of both the listed companies and holds board positions.
March 22, 2021 4:11 am
The government has received expressions of interest for the refiner from Vedanta Ltd and two global private equity funds.
November 19, 2020 10:59 am
Vedanta Limited is the holding company of Cairn India, which accounts for around a quarter of India’s annual crude oil output. The deadline for submission of EoIs for BPCL was November 16.
November 18, 2020 2:36 pm
Vedanta's interest in India's second largest fuel retailer is because of synergies with its existing oil and gas business.
November 17, 2020 3:46 am
Deloitte Touche Tohmatsu India LLP has been appointed the transaction advisor. DIPAM did not however specify which companies had submitted the EOIs.
September 29, 2020 11:19 am
The company had posted a profit of Rs 2,076 crore despite GRM being low on the back of inventory gains from a revival in the price of crude oil from lows of around $20 per barrel in April.
September 08, 2020 11:43 am
The move will not necessarily lead to opening up of subsidised LPG segment to private players, according to a senior government official.
May 27, 2020 3:07 pm
The EoI submission deadline was May 2, but on March 31 it was extended up to June 13.
May 01, 2020 1:35 pm
LPG Cylinder Price in India: This is the third consecutive rate cut in the non-subsidised LPG prices. Generally, prices of LPG cylinders are revised on a monthly basis by the OMCs.