BPCL Approves Divestment Of Its  Stake In Numaligarh Refinery: Motilal Oswal 
The BPCL is displayed at a fuel station in Mumbai. (Photographer: Vivek Prakash/Bloomberg)

BPCL Approves Divestment Of Its Stake In Numaligarh Refinery: Motilal Oswal 

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Motilal Oswal Report

Bharat Petroleum Corporation Ltd.’s board has approved the divestment of its entire 61.65% stake in Numaligarh Refinery for Rs 98.76 billion to a consortium of Oil India Ltd., Engineers India Ltd. and the Government of Assam (which has the first right of refusal).

Oil India, Government of Assam currently holds 26%/12.35% stake.

Last week, BPCL finalized commercial terms for acquiring Oman Oil’s approximately 36.62% stake in Bina refinery for ~Rs 24 billion.

Post completion of the transaction, it will hold a 100% stake in Bharat Oman Refineries Ltd.

Click on the attachment to read the full report:

Motilal Oswal BPCL NRL Divestment Update.pdf

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