Russia’s Rosneft Said To Be Keen To Bid For BPCL
BPCL signage is displayed at a gas station in Mumbai. (Photographer: Vivek Prakash/Bloomberg)

Russia’s Rosneft Said To Be Keen To Bid For BPCL

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Russia's largest oil producer Rosneft is keen to bid for acquisition of Bharat Petroleum Corp Ltd., sources said after the Russian firm's Chief Executive Officer Igor Sechin met Oil Minister Dharmendra Pradhan on Wednesday.

Rosneft, which is the majority owner of India's second-biggest private oil refinery, is keen to expand in the world's third-largest and the fastest-growing energy market.

Sechin first met Pradhan over breakfast, and then in delegation-level talks expressed interest in bidding for acquisition of government stake in Bharat Petroleum Corp Ltd, an official privy to the discussions said.

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The government is selling all of its 53 percent stake in BPCL in the country's biggest privatisation plan.

The official said the government is expecting national oil companies from the Middle East, such as Aramco of Saudi Arabia and ADNOC of UAE, to join the bidding for BPCL.

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