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Exclusive: Rosneft, Aramco unlikely to bid for India BPCL privatisation - sources

Sep 29, 2020 - Reuters UK

NEW DELHI/MOSCOW (Reuters) - Oil majors Rosneft ROSN.MM and Saudi Aramco 2222.SE are unlikely to bid in the privatisation of Indian refiner Bharat Petroleum Corp BPCL.NS , sources familiar with the matter said, as low oil prices and weak fuel demand curb their investment plans.

Russia’s Rosneft had expressed interest in buying the federal government 53.29% stake in Bharat Petroleum (BPCL) when CEO Igor Sechin visited New Delhi in February, while India’s trade minister had said Aramco ...