BPCL, ONGC jointly exploring setting up refineryBPCL plans to increase its integrated refining and petrochemical capacities within the next five to seven years to meet growing energy demand.
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Representative image of an oil refinery.
Credit: Reuters File Photo.
New Delhi: Bharat Petroleum Corp Ltd (BPCL) and explorer Oil and Natural Gas Corporation (ONGC) are jointly exploring setting up a refinery, two sources familiar with the matter said.
The talks are at a very nascent stage, the sources, who did not want to be named because they are not authorised to speak to media, said.
BPCL plans to increase its integrated refining and petrochemical capacities within the next five to seven years to meet growing energy demand, its chairman told shareholders last week.
Both the companies declined to comment on the development.