Centre may revisit BPCL privatisation, revise sale terms

The government may take a fresh look at BPCL privatisation, including revising the terms of sale, an official said.

We need to go back to the drawing board on BPCL. There are issues in terms of consortium formation, geopolitical situation and energy transition aspects, an official said. The government is selling its entire 52.98 per cent stake in BPCL for which three expressions of interest (EoIs), including one from billionaire Anil Agarwal-led Vedanta Group, have been received.

Financial bids are yet to be invited. The official said the transition towards green and renewable fuel has made privatisation difficult in existing terms. The total stake that may be offered to potential buyers too needs a rethinking in current conditions and easing of terms to help investors in forming a consortium, the official said.

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