With Monday\u2019s expiry of the government\u2019s deadline for submitting expressions of interest (EOIs) in the purchase of Bharat Petroleum Corp. Ltd (BPCL), a state-run oil refiner and fuel retailer, India\u2019s disinvestment programme was expected to spring back to life after what seemed like a covid-induced slumber. Unlike Air-India, which found no suitors, BPCL was seen as a coveted company.<\/p>\n
Like aviation, though, the oil business has turned sluggish globally, which may explain why global oil majors like BP, Total and Saudi Aramco looked the other way after BPCL was put on the block. The surprise, perhaps, was that even Reliance Industries was not among the \u201cmultiple” entities reported to have sent in EOIs. After all, it\u2019s an asset that few can afford to buy. By current market value, it would take about $10 billion to first acquire the government\u2019s 52.98% stake up for sale, and then pay for another 26% to be picked up from other shareholders through an open offer.<\/p>\n","protected":false},"excerpt":{"rendered":"
With Monday\u2019s expiry of the government\u2019s deadline for submitting expressions of interest (EOIs) in the purchase of Bharat Petroleum Corp. Ltd (BPCL), a state-run oil refiner and fuel retailer, India\u2019s disinvestment programme was expected to spring back to life after what seemed like a covid-induced slumber. Unlike Air-India, which found no suitors, BPCL was seen as a coveted company. Like aviation, though, the oil business has turned sluggish globally, which may explain why global oil majors like BP, Total and Saudi Aramco looked the other way after BPCL was put on the block. The surprise, perhaps, was that even Reliance […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[139,130,187],"tags":[],"class_list":["post-384687","post","type-post","status-publish","format-standard","hentry","category-live-mint","category-newspapers","category-oil-gas-live-mint"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/384687","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=384687"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/384687\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=384687"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=384687"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=384687"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}