Centre calls off EoI process for strategic divestment of BPCL
However, the multiple Covid-19 waves and geo-political conditions affected multiple industries globally, particularly oil and gas industry.
Centre calls off EoI process for strategic divestment of BPCL/Reuters Image
New Delhi: The Government Today on May 26 has called off the inviting expression of interests (EOIs) for the strategic disinvestment of Bharat Petroleum Corporation Ltd (BPCL). The Department of Investment and Public Asset Management ("DIPAM") had issued a global invitation on 7th March 2020 for expression of interest in the strategic disinvestment of Bharat Petroleum Corporation Limited.
Due to the Covid-19 pandemic the EoI submission date had to be extended multiple times to address the constraints faced by the potential bidders.
However, the multiple Covid-19 waves and geo-political conditions affected multiple industries globally, particularly oil and gas industry. Owing to prevailing conditions in the global energy market, the majority of QIPs have expressed their inability to continue in the current process of disinvestment of BPCL.
In view of this, the Government of India has decided to call off the present EoI process for strategic disinvestment of BPCL and the EoIs received from QIPs shall stand canceled.
A decision on the re-initiation of the strategic disinvestment process of BPCL will be taken in due course based on a review of the situation, mentioned.
Read Also : KABIL inks MoU with CSIR-NGRI for advancing geophysical investigations in critical and strategic minerals sectorNews Must Read
- SJVN Limited inaugurates India's first Multi-purpose Green Hydrogen Pilot Project
- KRDCL, RVNL JV emerges as the Lowest Bidder for Redevelopment of Thiruvananthapuram Central Railway Station
- REC Ltd. has incorporated subsidiary company BPTL
- Hon’ble Vice President of India Confers `Outstanding PSU of the Year’ Award on HAL
- BharatPe Launches India’s first All-in-One Payment Device
- NBCC registers historical Performance in FY2023-24
- RuPay Unveils Link it, Forget it Campaign at IPL 2024 to Promote RuPay Credit Card on UPI
- NTPC Green Energy Limited Inks MoU with Indus Towers Limited
- CIL’s capex up 6.5% to highest Rs.19,840 Crores in FY 2024
- SCOPE presents SCOPE PREMIER LEAGUE