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BPCL disinvestment: Govt extends date of EoI submission to November 16

The previous deadline to submit EoIs for BPCL was September 30, which was the third extension due to the COVID-19 pandemic.

September 30, 2020 / 12:11 PM IST
Representative image (Source: Reuters)

Representative image (Source: Reuters)

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Government has extended the deadline for submission of expression of interest (EoI) for Bharat Petroleum (BPCL) disinvestment to November 16.

This is the fourth time that the deadline has been extended to accommodate delays due to the coronavirus outbreak. The last deadline was to end today (September 30).

Also read: Rosneft, Aramco unlikely to bid for India BPCL privatisation
"In view of further requests received from the Interested Bidders (IBs) and the prevailing situation arising out of COVID-19 pandemic, the last Date for submission of EoIs is further extended to 16th November, 2020," the Department of Investment and Public Asset Management (DIPAM) said in a statement.

The government had in November 2019 said it will sell its 52.98 percent stake in BPCL, in a move to privatise to privatise the refiner.

Russia's Rosneft and Saudi Aramco are unlikely to bid for the government's holding in BPCL, according to a Reuters report.

Tags: #BPCL
first published: Sep 30, 2020 11:12 am