BPCL bid process: Three expressions of interest received, says Dharmendra Pradhan

The government has received three bids for the privatisation of Bharat Petroleum Corporation Ltd (BPCL), Union Petroleum Minister Dharmendra Pradhan said on Wednesday. “I think three parties have given their expression of interests (EoIs) for the bidding process,” the minister said during a webinar on the future of the oil and gas sector in India, noting that the government was “committed to offload its share from some of the state-owned companies” as it would bring more competition and professionalism to these companies.

Vedanta Resources had said it has submitted an EoI for the government’s 52.98 per cent stake in BPCL. Besides Vedanta, two private equity funds are reported to have also submitted bids for BPCL.