BPCL acquires Oman Oil’s stake in Bharat Oman Refineries Ltd
Bharat Petroleum Corporation Limited (BPCL), the second largest Indian Oil Marketing Company will acquire 36.6% stake from its partner OQ, the national oil company of Oman, in the Bharat Oman Refinery Ltd (BORL) for ₹24 billion, the company said today.
Since March 2020, BPCL has been holding 63.4% and OQ 36.6% equity in the Company. The Government of Madhya Pradesh has a minor stake in the Company through compulsorily convertible warrants.
BORL is located in Madhya Pradesh’s Bina and has a 7.8 MMTPA capacity. It was incorporated in 1994 as a public limited company with equal equity participation of Bharat Petroleum Corporation Limited and OQ (formerly known as OOC).
