Barely three years after it hived off the gas business into a separate wholly owned subsidiary called Bharat Gas Resources Ltd, state-run Bharat Petroleum Corporation Ltd (BPCL) will merge the former with itself ahead of its divestment process, the company said today.
In a statement to the exchanges, BPCL said the company’s board in a meeting on Monday approved the amalgamation of Bharat Gas Resources Ltd with BPCL.
BPCL, had been strengthening its gas business over the past few years and had intended to sharpen its focus on the gas segment by bringing in all-natural gas-related businesses into one-fold.
