BPCL’s EoI deadline ends Monday, several global giants may give a miss

New Delhi, Nov 15 : As the much-anticipated BPCL privatisation process enters its next phase with the deadline for bid submission ending on Monday, industry sources said that several global energy giants including BP and Saudi Aramco may not bid for the state-run oil major.
Industry sources said that Total and Russian giant Rosneft are also not interested to bid in the current subdued market conditions.
The Centre has put its entre 52.98 per cent stake in the Bharat Petroleum Corporation Ltd (BPCL) on the block.
However, the profit-making oil major has not received interest as anticipated due to low oil prices, coupled with poor demand.
Industry sources, however, said that Reliance Industries (RIL) and UAE’s Abu Dhabi National Oil Company (ADNOC) may bid for the state-run oil major.
ADNOC already has footprint in India as it is the only overseas company that has crude stored in Indian caverns.