BPCL has signed a share purchase agreement with Bharat Oman Refineries Ltd (BORL) and OQ S.A.O.C (formerly known as Oman Oil Company S.A.O.C) for acquisition of 36.62% of equity shares in BORL from OQ for a total consideration of Rs. 2,399.26 crore.

BPCL is the second largest Indian oil marketing company and one of the premier integrated energy companies in India, engaged in refining of crude oil and marketing of petroleum products, with a significant presence in the upstream and downstream sectors of the oil and gas industry.

Bharat Petroleum’s Refineries at Mumbai and Kochi, subsidiaries Numaligarh Refinery Limited at Assam and Bharat Oman Refineries Ltd., at Bina, Madhya Pradesh have a combined refining capacity of over 40 MMTPA. Its distribution network comprises around 18,000 Retail Outlets, 6,600 LPG distributorships, 733 Lubes distributorships, 123 POL storage locations, 52 LPG Bottling Plants, 58 Aviation Service Stations, 3 Lube blending plants and 4 cross-country pipelines.