BPCL board approves to merge Bina Oil Refinery with itself
The merger follows BPCL recently buying out partner Oman Oil in BORL.
New Delhi: The Indian government-owned oil and gas corporation Bharat Petroleum Corporation Board on Friday announced the merger of the corporation with Bina Oil Refinery with itself said in its board meeting held on Oct 21, 2021.
The company mentioned in a stock exchange filing, "The Board of Directors of the company (BPCL) at its meeting held on October 21, 2021, has considered and approved the Scheme of Amalgamation of Bharat Oman Refineries Ltd with the company."
Bina Refinery is owned and operated by Bharat Oman Refineries Limited (BORL), a wholly-owned subsidiary of Bharat Petroleum Corporation Limited (BPCL) with the present capacity of 6 million metric tonnes per annum or 43,978,597.06 barrels per annum.
According to PTI, BPCL said, The merger will provide "cost optimisation in the purchase of crude oil for the refineries," adding it would also provide optimisation in production planning/product mix for the refineries. More efficient space management, integrated asset management and de-duplication of processes wherever possible across refineries will be another benefit.
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