BPCL to buy balance stake in Bharat Oman Refineries

Bharat Petroleum Corporation Limited  (BPCL) will acquire a 36.62 per cent stake in Bharat Oman Refineries Limited (BORL) from OQ S.A.0.C. (formerly Oman Oil Company S.A.O.C.). This would amount to 888 million equity shares. Currently, BPCL holds 63.38 per cent equity shares in BORL and OQ S.A.O.C. holds 36.62 per cent. The company will also consider a proposal to approach the Madhya Pradesh government for acquiring 26.9 million warrants held by the state government in BORL.