Aramco, Exxon Mobil may be approached for BPCL sale
The government will approach Exxon Mobil of US, BP Plc of UK, Total SA of France and Saudi Aramco as it plans to sell public sector oil major BPCL in before March 2020.
At its current prices, BPCL is expected to fetch close to Rs 63,000 crore to the exchequer as against the asset sale target of Rs 1.05 lakh crore in the current fiscal year (2019-20).
Petroleum Minister Dharmendra Pradhan Thursday indicated that no domestic PSU oil company will be bidding for BPCL.
“Since 2014, we have a clear vision that the government has no business to be in business,” Pradhan said speaking about Wednesday’s major cabinet decision on strategic disinvestment of public sector firms.
