Rosneft, Saudi Aramco unlikely to bid in BPCL privatisation: Report

Topics Rosneft | Saudi Aramco | BPCL


Oil majors Rosneft and Saudi Aramco are unlikely to bid in the privatisation of Indian refiner Bharat Petroleum Corp, sources familiar with the matter said, as low oil prices and weak fuel demand curb investment plans. Russia's Rosneft had expressed interest in buying the federal government's 53.

29% stake in Bharat Petroleum (BPCL) when CEO Igor Sechin visited New Delhi in February, while India's trade minister has said that Aramco was enthusiastic about the stake sale. A Rosneft source, however, said his.

This article is no longer available in our repository.

There could be multiple reasons for this.