BPCL plans to list Bina refinery JV in FY 2017-18

Bharat Petroleum Corporation Limited (BPCL) is planning an IPO in 2017-18 for its Bina refinery joint venture (JV) company, Bharat Oman Refineries Limited, a JV between BPCL and the Oman Oil Company (OOC). With regard to the equity structure for the planned public offer for the Bina JV, OOC intends to remain invested in the project and will not exit through the public offer. BPCL also plans to start full operations of its expanded Kochi refinery project in the fourth quarter of the current financial year.