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India extends deadline for initial bids to buy state-owned BPCL

FILE PHOTO: A private security guard stands in front of the regional head office of oil refiner Bharat Petroleum Corp (BPCL) in Kolkata, India, November 28, 2019. REUTERS/Rupak De Chowdhuri/File photo

NEW DELHI (Reuters) - India said on Wednesday it has extended the deadline for submitting initial bids to buy state-owned Bharat Petroleum Corp Ltd to Nov. 16.

“In view of further requests received from the interested bidders and the prevailing situation arising out of COVID-19 pandemic, the last date for submission of EoIs (Expression of Interest) is further extended to 16th November,” the government said in a statement.

Reuters has cited sources saying India’s efforts to privatise refiner BPCL could spill over into the next fiscal year and global players such as Saudi Aramco and Russia’s Rosneft may not participate in the bid.

Reporting by Nidhi Verma and Aftab Ahmed; Editing by Jacqueline Wong