-
Aramco, Oil India likely to pick up stake in BPCL’s Andhra refinery
Bharat Petroleum Corporation Ltd (BPCL) is willing to dilute a 30–40 per cent stake in its upcoming greenfield refinery in Andhra Pradesh, with Gulf energy major Saudi Aramco and upstream player Oil India Ltd (OIL) likely to join as partners, a senior BPCL executive told Business Standard.
Aramco is expected to pick up a minority stake of about 20 per cent, while OIL may take around 10 per cent. BPCL may also divest 4-5 per cent to banks that have expressed interest in the project, the executive said.
Queries sent to BPCL and Oil India seeking comment remained unanswered at the time of publication. Saudi Aramco declined to comment.
Share This
