BPCL Merges India Oman Refineries

Bharat Petroleum Corporation Limited BPCL, the country's second-largest oil marketing company, has taken a big step amid the boom in crude oil prices across the world. The going to be private company has announced the merger of its subsidiary refinery Bharat Oman Refineries Limited BORL  in Bina, Madhya Pradesh with itself.

The merger is expected to bring mutual benefits to both companies. BPCL and its group companies have a significant presence in the upstream, refining and downstream value chains of the oil and gas industry, while BORL delivers product security and logistics to northern and central India through a network of pipelines. BORL is currently a fully owned subsidiary of BPCL.

In this regard, BPCL says that this merger will benefit it in procuring crude oil for refineries. It will also help in production planning for refineries and optimum utilization of capacity in product mix. Arun Kumar Singh, CMD, BPCL said that since the energy landscape is undergoing massive changes. BPCL has drawn up definite plans to expand its footprint in the energy sector and diversify for future growth and sustainability. With the merger of both Refineries, we will build our capabilities to compete more effectively and profitably in the rapidly changing energy market.