Essar Oil gets BSE approval to delist

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The Bombay Stock Exchange (BSE) has approved the planned delisting of shares in Essar Oil Ltd, two sources familiar with the matter said.

The delisting plan had already been approved by National Stock Exchange. Essar Oil, a unit of India`s diversified Essar Group, was given the BSE green light on Wednesday, the sources said.

Spokespeople for the BSE and the NSE could not be immediately reached for comment. An Essar spokesman declined comment.

Russian oil giant Rosneft is in a talks to buy a stake of up to 49 percent in Essar Oil, which operates a 400,000 barrels per day (bpd) Vadinar refinery in Gujarat.