BPCL fast-track officers’ promotion ahead of privatisation

In a departure from practice, Bharat Petroleum Corporation Ltd (BPCL) has promoted 64 officers, including eight as executive directors, this month as the state-run oil company expedite the annual task ahead of privatisation.

The promotion is part of a list of 225 officers some of whom were also transferred according to an office note issued by the Human Resources Department on December 30, 2020. The promotions and transfers took effect from January 1.

This task was carried out, for years, in March and took effect from April 1.

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The list includes officers who were promoted from deputy general managers to general mangers, from general managers to chief general managers and from chief general managers to executive directors.

A second list of promotions and transfers is expected soon for officers from managers to senior managers, from senior managers to chief managers and from chief managers to deputy general managers.

“After privatisation, promotions may not happen immediately,” said a source briefed on the development, indicating why the promotions of officers were affected earlier this time.

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BPCL did not respond to an email seeking comment.

The oil refining and marketing company has, however, put on hold promotions of general workmen, two months after notification was issued in this regard.

“Interviews have not been held for the grade up of general workers some of whom are in the current post for more than the mandatory three-year period to become eligible for promotion,” the source said.

The government has initiated the process for privatising BPCL, India’s third biggest oil refiner and second largest fuel retailer, by selling its 52.98 per cent stake to a strategic buyer.

Anil Agarwal’s Vedanta Ltd and private equity firms Apollo Global Management Inc and I Squared Capital have filed expression of interest to buy the government’s stake.