NEW DELHI: State-run engineering consultancy company EIL and northeast explorer Oil India Ltd will jointly bid to buy Bharat Petroleum\u2019s 61.6% stake in Numaligarh Refinery Ltd (NRL).
\nEIL\u2019s move is part of a plan to expand its business beyond consultancy to oil and gas operations. The company on Thursday said it will be minority partner in the consortium with OIL.
\nThe acquisition of BPCL\u2019s stake in NRL by the EIL-OIL combine will maintain NRL\u2019s status as a public sector undertaking and exclude it from the former\u2019s disinvestment, one of the conditions set for selling BPCL.
\nThe government had decided to exclude NRL\u2019s refinery in Assam, the only one in the northeast, from BPCL sale as it was built under an accord between the Centre and the state. OIL already holds 26% in NRL, while the Assam government holds a little over 12%.<\/p>\n","protected":false},"excerpt":{"rendered":"
NEW DELHI: State-run engineering consultancy company EIL and northeast explorer Oil India Ltd will jointly bid to buy Bharat Petroleum\u2019s 61.6% stake in Numaligarh Refinery Ltd (NRL). EIL\u2019s move is part of a plan to expand its business beyond consultancy to oil and gas operations. The company on Thursday said it will be minority partner in the consortium with OIL. The acquisition of BPCL\u2019s stake in NRL by the EIL-OIL combine will maintain NRL\u2019s status as a public sector undertaking and exclude it from the former\u2019s disinvestment, one of the conditions set for selling BPCL. The government had decided to […]<\/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":[130,219,137],"tags":[],"class_list":["post-401093","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-times-of-india","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/401093","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=401093"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/401093\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=401093"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=401093"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=401093"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}