The national oil companies (NOCs) of Oman, Kuwait and Abu Dhabi have shown interest in buying a stake of up to 24 per cent in Madhya Pradesh’s Bina refinery. The refinery has a capacity of about 6 million metric tonnes per annum and is operated by Bharat Oman Refineries Limited, which is an equal JV of Bharat Petroleum Corporation Limited (BPCL) of India and Oman Oil Co. S.A.O.C. of the Sultanate of Oman. Also, Oman Oil has expressed interest in making further investments in the refinery. Bina has been posting double-digit gross refining margins. Now, BPCL is planning to expand it further in two phases.
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