NEW DELHI: Rosneft is interested in bidding for Bharat Petroleum (BPCL) when the government puts it on the block, head of Russia’s largest oil producer Igor Sechin informed oil minister Dharmendra Pradhan, ahead of signing a crude supply contract with IndianOil — the first term contract for Russian oil by an Indian refiner.
Sources said Sechin first met Pradhan over breakfast on Thursday and followed it up with delegation-level talks to discuss proposed investments by Indian oil companies in Russia’s Far East and prospects for Rosneft in India.
It was during the course of these talks that Sechin outlined Rosneft’s interest in bidding for BPCL — India’s second-largest public sector oil company.
The government on November 20 had decided to privatise BPCL by selling the government’s entire 52.98% along with management control. Rosneft’s interest in BPCL will boost the government’s efforts to bring foreign investment. Oil ministry officials maintain that Saudi Aramco and ADNOC of UAE have already shown their interest in BPCL.
