Bharat Oman Refinery Limited

Last updated

Bharat petroleum corporation Limited
Company type government of India
Industry Oil and gas
Founded1994;31 years ago (1994)
Founders Bharat Petroleum
OQ
Headquarters
Bina, Madhya Pradesh
,
India
Key people
K. Padmakar (Chairman)
Mahendra Pimpale (Managing Director) [1]
Products LPG, Gasoline, Diesel, Aviation turbine fuel, Sulfur, Petcoke, Light aromatic naphtha
Owner Bharat Petroleum, Ministry of Petroleum and Natural Gas, Government of India
Website www.borl.in

Bharat Oman Refineries Limited (BORL) which is under the ownership of Ministry of Petroleum and Natural Gas of the government of India. It owns and operates Bina Refinery, located at Bina in the Sagar of the state of Madhya Pradesh in India. The company was incorporated as a joint venture between Bharat Petroleum Corporation (BPCL) and Oman Oil Company Ltd (now OQ). Since 2021, it is a wholly owned subsidiary of BPCL. The Bina Refinery was commissioned in 11 May 2011 with an annual capacity of 6 million tonnes. The capacity of the refinery was further enhanced to 7.8 million tonnes per year in 2018.

Contents

History

Bharat Oman Refineries Limited (BORL) was incorporated in 1994 as a public limited company with equal equity participation of Bharat Petroleum and Oman Oil Company Ltd (now OQ). [2] [3] Work on the refinery at Bina however began only in 2006. [4] The project faced significant delays on account of environmental clearances and poor infrastructure and suffered from severe cost overruns that saw its cost of establishment increasing from a budgeted ₹6,300 crore to ₹91 billion. [5] Following these delays and cost overruns, the Omani company initially dropped out of the project but subsequently decided to be a minority stake holder in the project holding 26% equity. The refinery which was to have been commissioned in 2009 was finally inaugurated in May 2011 by Prime Minister Manmohan Singh. [3] One percent of the plant's equity is held by the Government of Madhya Pradesh. The refinery is expected to create 5,000 jobs for Local peoples of district who comes to its criteria after then state so that they boost tax revenues for the state government. [6]

Capacity

The BORL refinery has a current installed capacity of processing 7.8 million tonnes of crude oil per annum (MTPA) or 156,000 barrels per day. The refinery also consists of a naphtha hydrotreater, a catalytic reformer to produce gasoline, a hydrocracker, a diesel hydrotreater and a delayed coker. [7] [8] The capacity at the refinery is to be augmented to 7.8 MTPA and is to reach a final capacity of 15 MTPA by 2022–23. [3] [9] Exports of naphtha from the refinery began in 2012. [10] The plant is equipped to produce Euro III and Euro IV petroleum products and is capable of producing Euro V petroleum products with minimal additional investment. [11]

Pipelines

The Bina refinery uses a single point mooring system at Vadinar in Gujarat to facilitate the unloading of imported crude oil from large crude carriers. The crude is transported through a 935-km long pipeline from Vadinar to Bina. The products of the refinery are then transported through the 257- km Bina-Kota pipeline where it joins the Mumbai-Manmad-Bijwasan pipeline to reach the markets of North India. [11]

Consolidation

The government decided to consolidate the businesses of BPCL before privatization. On 31 March 2021, BPCL announced that it had signed an agreement to acquire a 36.6% stake held by OQ (formerly known as Oman Oil Company) for ₹2,400 crore (US$280 million) giving it complete control over Bharat Oman Refinery Limited. [2]

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References

  1. ↑ "Board of Directors". borl.in. Retrieved 5 April 2021.
  2. 1 2 "Privatisation-bound BPCL acquires OQ's stake in Bina refinery". Business Standard India. Press Trust of India. 31 March 2021. Retrieved 5 April 2021.
  3. 1 2 3 "How BPCL drafted the Bina refinery script". The Hindu Businessline. Retrieved 20 December 2012.
  4. ↑ "Work begins at Bina refinery". Business Standard. 10 May 2006. Retrieved 20 December 2012.
  5. ↑ "BPCL revises Bina refinery project cost to Rs 9,100 cr – Bharat Oman Refineries to go in for IPO". The Hindu Businessline. 25 September 2005. Retrieved 20 December 2012.
  6. ↑ "Manmohan dedicates Bina refinery to the nation". The Hindu. 21 May 2011. Retrieved 20 December 2012.
  7. ↑ "BPCL commissions 120,000 bpd Bina refinery". HT Mint. 31 January 2011. Retrieved 20 December 2012.
  8. ↑ "Bharat Oman shut crude unit at Bina londrefinery". HT Mint. 7 July 2010. Retrieved 20 December 2012.
  9. ↑ "BPCL to raise Bina refinery capacity to 9 mt". The Hindu Businessline. Retrieved 20 December 2012.
  10. ↑ "BPCL offers 1st naphtha export from Bina plant". HT Mint. 5 March 2012. Retrieved 20 December 2012.
  11. 1 2 "Bina Refinery makes Bharat proud". Archived from the original on 27 August 2011. Retrieved 20 December 2012.
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