NEW DELHI: Privatisation-bound Bharat Petroleum Corporation Ltd (BPCL) will buy out Oman Oil Company’s shares in Bina refinery project in the next 10 days, and is hoping to complete a separate sale of its stake in Numaligarh Refinery by the next month-end, its director-finance said on Tuesday.
BPCL holds a 63.68 per cent stake in Bharat Oman Refineries Ltd (BORL), which built and operates a 7.8 million tonne oil refinery at Bina in Madhya Pradesh. “Discussions (to acquire 36.62 per cent stake of OQ S.A.O.C) have concluded. We can come out with an announcement of the acquisition of the stake in next 10 days or so,” BPCL Director (Finance) N Vijayagopal told reporters on an earnings call.
