Bharat Petroleum completed the acquisition of a 36.6% stake in Bharat Oman Refineries from OQ for $321m.

Bharat Petroleum, the secound largest oil marketing company in India, completed the acquisition of a 36.6% stake in Bharat Oman Refineries, an oil refinery, from OQ, an oil and gas company, for $321m. “With the acquisition of OQ’s entire stake in BORL, BPCL will establish control over BORL. This is expected to bring immense advantages to both the companies in terms of synergies and optimization of returns and will facilitate any future expansion or diversification in Bina," N. Vijayagopal, BPCL Director.