Page 3 - Bpcl

Govt has settled Rs 61,000 cr debt, liabilities of Air India: DIPAM Secy

In a Q&A, Tuhin Pandey also said govt plans to list LIC in this financial year

Top headlines: FRL turns down Amazon bailout offer; Maruti Q3 net falls 48%

Business Standard brings you the top headlines on Tuesday

BPCL to invest Rs 10,000 cr in six new city gas licences in next 5 years

BPCL on Tuesday said it will invest Rs 10,000 crore over the next five years in setting up city gas distribution networks in the cities for which it secured licences in the latest bidding round.

Vedanta to create $10-bn fund to bid for BPCL stake, other assets: Chairman

The fund will be made up of its own resources and outside investment, Agarwal said, adding that it may also finance the BPCL acquisition through debt

Divestment delayed, but petchem plans on the track: Bharat Petroleum

The government's plan is to sell its entire 52.98 per cent stake in BPCL with the transfer of management control to a strategic buyer

Stocks to Watch: Mindtree, HCL Tech, BPCL, Ujjivan SFB, HDFC Bk, Adani grp

HCL Technologies is scheduled to announce Q3 results on Friday, while HDFC Bank will report numbers on Saturday. Adani group stocks may be in focus on the back of MoU with POSCO.

Vedanta puts $12-bn price tag on privatisation-bound Bharat Petroleum

Vedanta chairman Anil Agarwal expects India to open the bids for BPCL in March

BPCL privatisation: How long can govt afford to wait for the right suitor

Its sale has been delayed by two years. But the longer the wait, the lower its chances of getting a good valuation

Top Headlines: Omicron 3x more transmissible; Rs 2 trn worth IPOs next year

Business Standard brings you the top headlines at this hour.

Privatisation: Changing tracks aided Air India, derailed BPCL sale

Changing tracks helps. But, not taking the beaten path isn't always helpful. This is the story of two of India's biggest privatisations - Air India and Bharat Petroleum (BPCL). Nearly two decades after the last privatisation, a landmark divestment concluded this year when the loss-making national carrier Air India was sold to the Tatas. This was made possible only after the government changed the track from selling 76 per cent of its stake in the national carrier to putting on block its entire 100 per cent holding as well as giving bidders an option of deciding how much debt they were willing to take over. But in the case of BPCL, the government ignored suggestions of following its time-tested policy of putting on block 26 per cent stake along with management control, just like it had done in the case of Hindustan Zinc and Balco. Instead, it offered its entire 52.98 per cent in the company operating in a sunset sector. The result - just three bids came in, and two of them struggled

BPCL, BARC collaborate to scale up tech for Green Hydrogen production

The process refineries use to make hydrogen causes high CO2 emission. So refiners are setting up large electrolysers to produce green hydrogen from water and thereby decarbonise hydrogen production

Stocks to Watch: Paytm, Star Health, Rel Cap, Ujjivan SFB, BPCL, telcos

Further consolidation seems likely, while telecom stocks may be in focus owing to the new DoT order on limiting SIMs per user

BPCL, Bina Refinery merger plan gets DIPAM go-ahead

The merger is likely to bring synergy in terms of raising the operational and financial efficiency of BPCL, including crude oil procurement, and the working capital requirements

Dentist, CAs among five independent directors appointed by Bharat Petroleum

They have been inducted on to the company's board effective November 12, will hold office for three years

Explained: Why does India fail to attract foreign investments in oil & gas?

The scenario reflects the larger uncertainties in global fossil fuel investments and India's whimsical policy environment

Government receives Rs 6,665 crore dividend from BPCL for FY21

The government has received a final dividend of Rs 6,665 crore from privatisation-bound Bharat Petroleum Corporation Ltd (BPCL) for the 2020-21 fiscal, DIPAM Secretary said on Wednesday. "Govt received final dividend of Rs 6,665 crore from BPCL for the FY 2020-21. This includes special dividend on account of gains especially on sale of BPCL's stake in Numaligarh Refinery in March 2021," DIPAM Secretary Tuhin Kanta Pandey tweeted. In March, BPCL had sold its entire 61.5 per cent stake in Numaligarh Refinery in Assam to a consortium of Oil India Ltd and Engineers India and the Assam government for Rs 9,876 crore. The government is selling its entire 52.98 per cent stake in BPCL. Vedanta Group and private equity firms Apollo Global and I Squared Capital's India unit Think Gas have put in an expression of interest for buying the government's stake. The government has already indicated that it expects to complete BPCL privatisation in the current fiscal. The sale is key to achieving th

BPCL disinvestment delayed as suitors strive for partners: Report

The massive price tag means bidders as well as the Indian government want a consortium with stronger technical and financial muscle for the transaction, the people said.

BPCL privatisation faces bigger obstacles than Air India sale. Here's why

BPCL privatisation faces bigger obstacles than Air India sale. Here's why

Reform fuel pricing

Govt must follow a transparent mechanism

Top headlines: fuel price hurts BPCL, Apple launches premium MacBook

The disinvestment of Bharat Petroleum Corp­oration may hit a fuel price hurdle, according to officials dealing with the matter. Read this and more in our top headlines of the day