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BPCL merges subsidiary BORL with itself
Bharat Petroleum Corporation (BPCL) has merged its fully owned subsidiary Bharat Oman Refineries (BORL) with itself, effective July 1. BPCL purchased Oman Oil Company's shares in the Bina refinery project for about Rs 24 billion last year.
The combined refining capacity of BPCL's refineries in Mumbai and Kochi, along with Bina, is about 35.3 million tonnes. Bina uses 47 different kinds of crudes.
The merger is anticipated to be advantageous for both businesses, according to the corporation. While BPCL and the companies in its group are present throughout the oil and gas industry's upstream, refining, and downstream value chains, BORL offers a logistical and product security edge in northern and central India through a network of pipelines.
BPCL anticipates profiting from cost-optimization of crude oil purchases, flexibility in choosing crude feedstock, optimization of production planning, and product mix for the refineries. For the purpose of evacuating its products, the Bina refinery will have unlimited access to the BPCL marketing network.
