Kuwait Petroleum International is reportedly in talks to buy a 24 per cent stake in the Bina joint venture (JV) refinery in Madhya Pradesh. The Bina refinery is operated by Bharat Oman Refineries Limited (BORL), an equal share JV between the Oman Oil Company and Bharat Petroleum Corporation Limited. Global oil producers are planning to enter the Indian refining sector as the country plans to raise its refining capacity by 77 per cent to about 8.8 million barrels per day by 2030 to meet the rising fuel demand.
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