Middle East Economic Survey


No 47



OOC Takes 26% Stake In Bharat Refining Joint Venture

Oman Oil Company (OOC) signed an agreement on 15 November to increase its equity stake in a joint venture with Indias Bharat Petroleum Corporation Ltd (BPCL) to 26%, up from a previous 2%. The project, Bharat Oman Refineries Ltd (BORL), is currently setting up a 6mn tons/year refinery at Bina, Madhya Pradesh. The project is progressing at a fast pace and 92% of the work has been already...