Report: Rosneft to compete for stake in India’s Bharat Petroleum

MOSCOW, Oct 21 (PRIME) -- Russian oil major Rosneft is among the international contenders for a 53.3% stake in India’s state oil and gas company Bharat Petroleum Corp. Ltd that the government plans to sell, Indian daily Mint reported on Monday quoting sources familiar with the matter.

The sources told the daily that other contenders for the stake include Saudi Aramco, Kuwait Petroleum, ExxonMobil, Shell, Total, and Abu Dhabi National Oil Co. A source said that the Indian government tries to be in dialogue with all the companies.

The Indian government plans to use the money from the deal to cover budget deficit, and should appoint a consultant for the sale in November, Mint reported.

Bharat Petroleum is India’s second largest company in the downstream sector. It employs more than 12,000 people.

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