MUSCAT: India’s Bharat Petroleum Corporation Ltd (BPCL) has acquired Oman’s OQ’s 36.62% stake in Bharat Oman Refineries Limited (BORL).
OQ signed a sales purchase agreement with BPCL on Wednesday, the company said in a statement. According to sources, the stake has been purchased at OMR 120 million.
“To help drive our businesses towards creating better value from local & international #investment portfolio, we signed a Share Purchase Agreement #SPA with Bharat Petroleum Corporation Limited @BPCLimited to sell our 36.62% share in Bharat Oman Refineries Limited (BORL),” the statement said.
Read More
- Bank of Beirut to exit Oman after 20 years, depositors given 60 days to settle accounts
- Omantel’s Otech, DeepAstra launch sovereign AI platform in Oman
- Oman’s oil prices slide below $92 as global markets rebound
- With the new school year approaching, plan for your child’s education with BankDhofar
- Nifty, Sensex end lower as Iran sanctions, high crude and rising bond yields weigh on sentiment
