New Delhi: India is considering a plan to sell the nation’s second-largest state refiner and fuel retailer to a global oil company as it explores options to give up its controlling stake in Bharat Petroleum Corp. Ltd., people with knowledge of the matter said.
The government is keen to lure multinational companies in the domestic fuel retailing to boost competition and shake up a sector that’s long been dominated by state-run firms, the people said, asking not to be identified as the plan is not public. A media report on September 2 said that Centre plans to sell a majority stake in the company.
