BPCL director Vijay Gopal said that as per the plan, the consortium of OIL & Engineers India Ltd will acquire 49% stake and the remaining 13.65% will be sold to the Assam government. They said that NRL stake sale is happening at a fast pace. Valuation is happening and if things happen on time If this happens, the transaction will be completed by 31 March.
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The sale of NRL is considered as the first step towards the disinvestment of BPCL. In the biggest privatization of the country so far, the central government will sell its entire 52.98% stake in BPCL. The government had earlier indicated that it hopes to complete privatization of BPCL by the first half of the beginning of April (2021-22). This sale is crucial to achieve the disinvestment target of 1.75 lakh crore set for 2021-22. Private equity players such as Anil Agarwal-led Vedanta Group and Apollo Global, and I Square Capital have already expressed interest in BPCL. BPCL will own about 15.33% of India’s oil refining capacity and 22% of the fuel marketing share to the buyer.
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Numaligarh Refinery It is looking to increase its refining capacity from 3 million tonnes per year to 9 million tonnes at an investment of 22,594 crore. The project is expected to be completed by 2024. According to BPCL, net profit increased by 120% to Rs.6,777.6 crore for the quarter ended December. The company earned 1,260.6 crore net profit in the same period a year ago. BPCL director (finance) N Vijayagopal said, “The third quarter after tax this fiscal is the strongest in terms of profit before tax and profit. We are at pre-COVID levels of sales.”
The next ten The days Oman Oil company Of share Will buy
BPCL said on Tuesday that it would buy Oman Oil Company’s shares in the Bina refinery project in the next 10 days. BPCL owns a 63.68% stake in Bharat Oman Refineries Limited (BORL), which manufactures and operates a 7.8 million tonne oil refinery in Bina, Madhya Pradesh. We can come up with the announcement of the acquisition of the stake in the next 10 days or after by the director of BPCL. OQ SAOC was previously known as Oman Oil Company. “The details of the deal, such as the price of the acquisition, will become part of the announcement expected in the next 10 days,” he said.