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Engineers India, Oil India to jointly bid for BPCL stake in Numaligarh Refinery


Engineers India, Oil India to jointly bid for BPCL stake in Numaligarh Refinery
Numaligarh Refinery Limited in Assam. Photo: Bloomberg.
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Numaligarh Refinery is the largest customer of OIL s crude produced from its North Eastern fields
The deal is likely to happen by March, N. Vijayagopal, director, finance, BPCL had said on 9 February
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State-run Oil India (OIL) and Engineers India (EIL) will jointly bid for acquiring Bharat Petroleum Corporation s (BPCL) 61.65% stake in Numaligarh Refinery Limited (NRL), the companies said today.
The bid will be submitted through a formal process.
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OIL-led consortium to bid for BPCL's stake in Numaligarh Refinery


OIL-led consortium to bid for BPCL s stake in Numaligarh Refinery
  Thu, Feb 18 2021 10:02:58 PM
New Delhi, Feb 18 (IANS): Oil India Ltd (OIL), in consortium with Engineers India Ltd (EIL), has decided to bid for acquiring 61.65 per cent stake of Bharat Petroleum Corporation Ltd (BPCL) in Numaligarh Refinery Ltd (NRL).
NRL has been carved out from BPCL and is not part of assets that is being sold as part of its privatisation plan.
An OIL statement said that its bid for NRL will be submitted through a formal process. The exact percentage of the stake of OIL and EIL will depend on the extent of Right of First Offer (ROFO) to be exercised by the Assam government, which already holds 12.35 per cent stakes in NRL. ....

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