Bharat Petroleum Corporations’ (BPCL) Bina Refinery in an equal Joint Venture (JV) with Oman Oil Company has shelved its IPO plans for the company as it generates enough cash to complete the ongoing expansion and as also because Kuwaiti Petroleum is keen to pick up a stake. The 1,20,000 barrels-a-day Bina Refinery is shut since mid-August for 45 days to synchronise the newly set up units with the existing facility which will raise the capacity to 1,56,000 bpd.
BPCL is into exploration, production and retailing of petroleum and petrol related products. The retail business unit of BPCL is into marketing of petrol, diesel and kerosene.
