Will IOC join HPCL-BPCL race?

new delhi: the cabinet committee on disinvestment in its next meeting will consider a request by indianoil for being allowed to bid for acquiring the government''s stake in hindustan petroleum and bharat petroleum. referring to the ccd decision to bar ioc from bidding for hpcl and bpcl, petroleum minister ram naik said, "ioc is an aggreived party. it has approached the government to reconsider the decision of barring it from bidding for bpcl and hpcl. the next ccd meeting is likely to consider this request." the minister was talking to reporters after receiving a cheque for rs 1153.68 crore for the sale of 33.58 per cent stake in ibp to ioc. while approving ioc''s bid of rs 1153.68 crore for petro marketing psu ibp, ccd decided on february 5 to keep the ioc out of the privatisation process of bpcl and hpcl as their acquisition by ioc would lead to monopoly like situation in petro retailing. ioc has 54.6 per cent market share in petro product marketing while bpcl and hpcl between them have 40 per cent share. ioc chairman m a pathan has written to the government to allow ioc to bid for hpcl and bpcl or else keep reliance out of privatisation process for ipcl on the ground of monopoly. "ioc should be allowed to bid for hpcl and bpcl so that government realises the inherent value of psu oil companies. but if ioc is being debarred from bidding for bpcl and hpcl, ril should also be kept out of bidding for ipcl as it would create a monopoly situation in petrochemicals business," he wrote to the government.