ChevronTexaco has bid for a stake in state-run Hindustan Petroleum Corp Ltd, India's second-largest oil refiner and retailer, a government official said on Monday.
"ChevronTexaco submitted their initial expression of interest for HPCL. More bids are expected by the closing time of 1730," a senior divestment official, who did not want to be identified, told reporters.
The government, which holds 51 per cent of HPCL, plans to sell a controlling 34 per cent stake in the company as part of its privatisation drive.
Other bidders for HPCL, which has a nationwide petrol station network, are expected to include India's largest oil and petrochemicals firm, Reliance Industries. It has a 540,000-bpd refinery but no retail outlets.
Industry officials say Royal Dutch/Shell, which bid unsuccessfully for Indian oil retailer IBP Co last year, may also enter the race.
An official of Malaysian state oil and gas firm Petronas told Reuters that the company has submitted an expression of interest.
