BPCL cracks over 3% as RIL, other majors give bidding a skip

Shares of Bharat Petroleum Corporation Limited NSE -3.51 % (BPCL) cracked over 3 per cent in Tuesday’s trade after reports suggested that the government on Monday received ‘multiple’ bids for buying out its stake in India’s second-biggest fuel retailer BPCL but billionaire Mukesh Ambani’s Reliance Industries (RIL) as well as Saudi Aramco, BP and Total […]

Shell seeks more clarity on decarbonisation policy and further reform in power sector

New Delhi: Oil and gas giant Shell, which is shifting its emphasis from polluting fossil fuel to low-carbon electricity and new fuels globally, wants India to offer more policy clarity on decarbonisation and further reform the power sector to encourage free electricity market, bigger power trading exchange and preference for renewables in the merit order.

Indian oil firms need to bring in foreign players to unlock resources: Dharmendra Pradhan

NEW DELHI: India’s oil minister Dharmendra Pradhan asked exploration companies to consider farming out their acreages to global players with advanced technology to expedite development and raise oil and gas output. India, the world’s third biggest oil importer and consumer, depends on foreign purchases for over 80% of its oil needs. The nation’s oil and […]

BPCL stake sale gets multiple bids; RIL, Aramco skip race

New Delhi: Global and domestic companies submitted expressions of interest (EoI) for the government’s stake in Bharat Petroleum Corp Ltd (BPCL NSE -3.86 %) by the Monday deadline, said people with knowledge of the matter. “Strategic disinvestment of BPCL now moves to the second stage after multiple expressions of interest have been received,” finance minister […]