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Rosneft, Aramco unlikely to bid for India BPCL stake

September 30/2020

MOSCOW (MRC) -- Rosneft and Saudi Aramco are unlikely to bid in the privatisation of Indian refiner Bharat Petroleum Corp, sources familiar with the matter said, as low oil prices and weak demand curb their investment plans, said Indiatimes.

Russia's Rosneft had expressed an interest in buying the federal government's 53.29 per cent stake in Bharat Petroleum (BPCL) when its chief executive Igor Sechin visited New Delhi in February, while India's trade minister has said that Saudi oil giant Aramco was enthusiastic about the stake sale.

A Rosneft source, however, said it will not buy BPCL, while another said the Russian oil major would only be interested in BPCL's marketing business, which is comprised of fuel depots and more than 16,800 fuel stations.

Ethylene and propylene are feedstocks for producing polyethylene (PE) and polypropylene (PP).

According to MRC's ScanPlast report, Russia's overall PE production totalled 1,712,400 tonnes in the first seven months of 2020, up by 58% year on year. Linear low density polyethylene (LLDPE) accounted for the greatest increase in the output. At the same time, overall PP production in Russia increased in January-July 2020 by 24% year on year to 1,063,700 tonne. ZapSibNeftekhim accounted for the main increase in the output.


mrcplast.com
Author:Anna Larionova
Tags:petroleum products, PP, PE, neftegaz, petrochemistry, Rosneft, Bharat Petroleum, Saudi Aramco.
Category:General News
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