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New Delhi, July 29 (PTI) Essar Oil today hinted that it is interested in buying British energy giant BP Plc''s fuel marketing assets in East Africa, which Reliance Industries is also said to be eyeing. "BP is running a process (to sell its interest in East Africa). It is early part of the process, it will take six months time (to conclude)," Essar Group CEO Prashant Ruia told reporters here. BP is selling its retail outlets, terminals and aviation fuel stations in Botswana, Tanzania, Namibia, Malawi and possibly also in Zambia, to cover costs related to the worst oil spill in US history. "These are some 150 (retail) outlets," he said. "They (BP) are looking at selling (interest) in 5-6 countries (in East Africa). They are inviting participation for all." Asked if Essar Oil will bid for BP''s assets, he said: "We are looking (at it). it is too early to comment." Reliance and Essar are among about half a dozen firms which have shown interest in BP''s assets, valued at USD 400 to 500 million. A South African firm and National Oil Corp of Libya are said to be other serious bidders. BP owns retail outlets selling gasoline (petrol) and gas oil (diesel), as well as aviation refuelling facilities at major airports in Botswana, Tanzania, Namibia, Malawi and Zambia. The acquisition would give a company a ready market for auto and aviation fuel, with scope for further expansion into neighbouring high-growth countries, sources said. Essar Oil had last year acquired a 50 per cent stake in the 4-million tonnes a year Kenya Petroleum Refinery in Mombasa and may sell fuel produced from this unit to BP''s marketing outlets. Industry sources said Reliance may be looking at supplying gas oil, gasoline and jet fuel from its twin refineries at Jamnagar, in Gujarat, to East African nations. It also exports fuel to Gulf Africa Petroleum Corp, a firm it had acquired in 2007. Gapco owns retail outlets in countries like Tanzania, Uganda and Kenya. British energy giant BP intends to sell USD 30 billion worth of assets -- mainly upstream oil and gas fields -- over the next 18 months to help pay for the Gulf of Mexico oil-spill clean-up and compensation. .
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