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BPCL drops IPO plan for Bina Refinery
Sept. 17, 2018

BPCL drops IPO plan for Bina Refinery

Bina Refinery is a joint venture (JV) of India’s BPCL and Oman Oil Company. Strategizing its expansion plans, BPCL has decided to abandon its IPO plans for the JV. The reason behind this decision is that Bina is generating enough liquidity to finish the ongoing expansion and also “because Kuwaiti Petroleum is keen to pick up a stake”. IPO would have offered an exit option to Oman Oil.

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