BPCL gets Cabinet approval for additional equity investment in E&P arm, Mozambique LNG project
The Cabinet Committee on Economic Affairs (CCEA) is understood to have given its nod for additional investment of $2,670 million by Bharat Petro Resources Ltd (BRPL), a wholly-owned subsidiary of Bharat Petroleum Corporation Ltd (BPCL), for a LNG project in Mozambique.
The CCEA, which had met on Wednesday, is also said to have given the green signal for additional equity investment of ₹10,000 crore by BPCL into the equity share capital of BRPL, sources told BusinessLine. There was no official communication on the decision by the government.
Why this when the government is preparing to sell its stake in BPCL? What does it gain?
