Bharat Petroleum Corporation Limited (NSEI:BPCL) intends to acquire Nagarjuna Oil Refinery Limited (BSE:534184). At least three contenders, including BPCL, are vying for Nagarjuna Oil's 6-million-tonne-a-year refinery that is on the block under the Corporate Insolvency Resolution Process. According to sources, BPCL is among those likely to submit a resolution plan.

Others are an Oman-based company and another from Singapore, a source said declining to give more details. Major consultants, including KPMG and Fox Mandal, are handling the due-diligence.