Indian oil giants vie for BP assets

Friday, August 06, 2010

Old Indian corporate rivals, Reliance Industries (RIL) and Essar, are reportedly competing for the assets of BP.

The two companies are bidding to acquire the retail assets and lubricant business of BP in five African countries, including Botswana.

BP announced early this year that it would be pulling out of five southern African countries, namely, Botswana, Zambia, Malawi, Tanzania and Namibia, as part of a strategic review.

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