Bharat Petroleum Corporation (BPCL) soared 13 per cent to Rs 444.60 on Friday and has rallied over 20 per cent from Wednesday’s close. Global Energy Majors are showing interest in the state-owned oil marketing company including Reliance Industries.
Hindustan Petroleum Corporation (HPCL) and Indian Oil Corporation (IOC), were trading higher by 6 per cent and 2 per cent, while more than doubled trading volumes with 16 million equity shares changing hands on the NSE and BSE. Bharat PetroResources Ltd, subsidiary of BPCL, has finalised senior debt financing of $14.9 billion for the two train LNG projects.
As per the reports, Saudi Aramco, Rosneft, Abu Dhabi National Oil Co. (ADNOC) Exxon Mobil and, one Indian private player will be participating in the bidding process for BPCL. The deadline for submitting the Expressions of Interest (EoIs) has been postponed twice and the current deadline ends in late July.
Dharmendra Pradhan, Oil Minister also clarified that there is no going back on the decision of privatising the country’s largest oil marketing company BPCL in view of the slump in the global energy prices. The Government of India has proposed strategic disinvestment for its entire shareholding of 52.98 per cent comprising of 1,149 million equity shares.

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