Oil India and Engineers India to acquire a 61.65% stake in Numaligarh Refinery from Bharat Petroleum for $1.3bn.

Oil India, a premier Indian National Oil Company, and Engineers India, a provider of engineering consultancy, agreed to acquire a 61.65% stake in Numaligarh Refinery, an oil refinery in India, from Bharat Petroleum, an oil and gas company, for $1.3bn. Assam government may also participate in the acquisition. The Board of Directors of Bharat Petroleum has already approved the transaction.