BPCL, Bina Refinery merger plan gets DIPAM go-ahead

The merger is likely to bring synergy in terms of raising the operational and financial efficiency of BPCL, including crude oil procurement, and the working capital requirements

After divestment-bound Bharat Petroleum Corporation (BPCL) acquired Oman’s state-owned petroleum investment company OQ’s entire stake in the Bina Refinery project in June this year, the company has now got clearance from the Department of Investment and Public Asset Management (DIPAM) for the merger of the refinery with BPCL.

BPCL also acquired Madhya Pradesh government’s stake in Bharat Oman Refineries (BORL) or Bina Refinery in the form of convertible share warrants for Rs 72.63 crore two months ago. The merger is likely to bring synergy in terms of raising the operational and financial efficiency of BPCL, including crude oil procurement, and