Bharat Oman to commission refinery in Sept quarter
New Delhi, March 4, 2010
Bharat Oman Refineries Ltd (BORL) will commission its 120,000 barrels per day Bina refinery in central India in the July-September quarter, junior Indian oil minister Jitin Prasada told lawmakers on Thursday.
Bharat Oman Refineries Limited (BORL) is a joint venture company formed by Bharat Petroleum Corporation Limited (BPCL) and Oman Oil Company Limited (OOCL) to set-up a 6 MMTPA (million metric tonnes per annum) grassroot refinery at Bina, District Sagar, State of Madhya Pradesh, India.
OOCL signed an agreement to increase its final holding to 26 per cent of the equity share capital of BORL, second major shareholder after BPCL, in November 2009.
The project includes crude oil import facilities and a cross country pipeline. The total estimated cost of the project is now expected to be Rs.11,397 crore ($2.4 billion).
The project envisages transporting crude oil from the western coast of India in Vadinar, Gujarat by a 935-km pipeline to Bina.
Bina Refinery is designed to process Arab Mix crude (65 per cent Arab Light and 35 per cent Arab Heavy) but it will also have the flexibility to process other types of Middle East crudes.
The commissioning of the project should take place early this year and production is due to start in Q2 2010.-Reuters & TradeArabia News Service