Bpcl Stake Sale: The profit was aided by a boost in marketing margins as a freeze on petrol and diesel price revision despite a fall in input crude oil prices helped recover losses incurred when rates were high last year.
Bpcl Stake Sale: In the current quarter, the refinery throughput was 9.35 million tonnes versus 8.82 million tonnes in Q2 of FY 22-23. Market sales were 12.19 million tonnes in Q2 FY 23-24 versus 11.44 million tonnes in Q2 of FY 22-23. Sales have grown by 6.56 %.
The govt decided to call off BPCL’s disinvestment last month after interested parties could not continue due to prevailing conditions in global energy markets and the pandemic. It said the decision to reinitiate the process would be taken after reviewing the situation
The government on Thursday withdrew its offer to sell its entire 52.98 per cent stake in BPCL, saying that majority of bidders have expressed their inability to participate in the current privatisation process due to prevailing conditions in the global energy market.
India is considering selling up to a quarter of state-run refiner Bharat Petroleum Corp Ltd (BPCL) after failing to attract suitors for the whole firm, two officials said, as the government's divestment programme moves slower than expected.