Strategic disinvestment of both HPCL, BPCL this year?
NEW DELHI: Not one but two oil companies – BPCLNSE 1.36 % and HPCLNSE -0.03 % – may go under the hammer this fiscal with state-owned oil and gas explorer ONGC now looking to sell its stake in recently-acquired refiner HPCL to a strategic investor, possibly an overseas oil company, to regain debt-free status of the company existing prior to the expensive buy.
The plan for Hindustan Petroleum Corporation Ltd (HPCL) follows the government’s go ahead to invite a strategic investor for Bharat Petroleum Corporation Ltd (BPCL) where the Centre owns 53 per cent stake.
