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Why Vedanta May Desperately Need A BPCL
BPCL can give Agarwal’s conglomerate a cash-rich refinery business with a retail network and a 22% share in the market.
04 Jan 2021, 07:50 AM IST
Vedanta Ltd. joined the race for acquiring state-owned Bharat Petroleum Corp. three months after its failed delisting and when analysts have flagged risks about its leverage. Yet, billionaire Anil Agarwal needs the oil refiner more than ever.The output from its oilfield in Barmer, Rajasthan has been falling. It also produces a waxy crude that state-run refiners refuse to take despite the mandate to buy as part of the oil exploration ...
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