Ahead of its planned divestment, state-run Bharat Petroleum Corporation (BPCL) on Tuesday said its board will consider a proposal to increase stake in Bharat Oman Refineries. Plans to merge Bharat Gas Resources with the company will also be considered at the meeting on Thursday.
BPCL on Tuesday informed exchanges that its board will meet on Thursday to consider acquisition of 36.62 per cent of equity shares in Bharat Oman Refineries (BORL). BPCL will acquire these shares from its Oman partner in the BORL. A proposal to merge Bharat Gas Resources, a wholly owned subsidiary of BPCL, with itself, will also be considered at the meeting. Bharat Gas Resources was incorporated in June 2018 for handling its natural gas business.