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Mumbai Feb. 21 BPCL has decided to sell its 49 per cent stake in Bharat Shell Ltd to its overseas partner, Shell Overseas BV.

The BPCL board took the decision on Wednesday to sell the stake.

Bharat Shell Ltd is a joint venture between Shell and BPCL and runs a lube oil blending plant at Taloja near Mumbai.

To focus on own brands

A release issued by Shell said: "Both parties recognise the success of their joint venture but believe that the time is right to focus on their own specific lubricants brands, building these independently in India, which is an important lubricants growth market."

Mr Vikram Mehta, Chairman of Shell Companies in India, said: "This is a great opportunity for enhanced growth in Shell's lubricants businesses in this emerging and dynamic market."

More Stories on : Restructuring | Petroleum | Bharat Petroleum Corporation Ltd

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