BPCL bid extension
The government on Tuesday extended the deadline for putting in bids to buy its entire 52.98 per cent stake in BPCL by over a month to June 13.
The government had earlier this month invited expressions of interest, or bids showing interest in buying its stake, by May 2.
This now has been extended to 5 pm on June 13 in “view of the requests received from the interested bidders and the prevailing situation arising out of Covid-19”, an official notice said.
Accordingly, the last date for submission of written queries has been pushed back to May 16 from the earlier deadline of April 4.
“The government is proposing a strategic divestment of its entire shareholding in BPCL along with transfer of management control to a strategic buyer (except BPCL’s equity shareholding of 61.65 per cent in Numaligarh Refinery),” the notice inviting offer said.
The government has extended the last date of bidding for 11 oil and gas blocks in the fifth round, and has decided to merge the next two rounds into one in view of the Covid-19 lockdown in the country.
The fifth bid round under Open Acreage Licensing Policy opened in January and was to initially close on March 18. However, the bid date was earlier this month extended to April 16. Now it has been further extended.
“The revised date shall be notified soon,” the Directorate-General of Hydrocarbons said in a tweet.
The bidding cycle for round VI (ending March 31, 2020) and round VII (ending July 31, 2020) shall stand merged,” DGH said, adding the EoIs received between December 1 and July 31 will be clubbed and put on offer as a combined bid round.
“Bidding round would be launched based on EOIs received till July 31, 2020,” it said.