Malaysia's Petroliam Nasional Bhd (Petronas) and a consortium led by Japan's JXTG Holdings Inc are among the companies interested in buying a stake in India's Bina oil refinery, a source close to the matter said.

The Bina plant in central India, capable of processing 156,000 barrels per day (BPD) of crude oil, is operated by Bharat Oman Refineries Ltd (BORL), a 50-50 joint venture between Oman Oil Co and state-run Bharat Petroleum Corp (BPCL).

"There are a new set of companies who have approached BPCL for a stake in its Bina refinery," said the source, who asked not to be named as the discussions are private.

BPCL plans to double the capacity of the refinery in the next five years and build a petrochemical complex that would require an investment of about 500 billion rupees ($7.24 billion), the source said.

Bharat Petroleum did not respond to a request for comment. Petronas and JXTG were not immediately reachable for comment.

Malaysia's Petroliam Nasional Bhd (Petronas) and a consortium led by Japan's JXTG Holdings Inc are among the companies interested in buying a stake in India's Bina oil refinery, a source close to the matter said.

Malaysia's Petroliam Nasional Bhd (Petronas) and a consortium led by Japan's JXTG Holdings Inc are among the companies interested in buying a stake in India's Bina oil refinery, a source close to the matter said. The Bina plant in central India, capable of processing 156,000 barrels per day (BPD) of crude oil, is operated by Bharat Oman Refineries Ltd (BORL), a 50-50 joint venture between Oman Oil Co and state-run Bharat Petroleum Corp (BPCL). "There are a new set of companies who have approached BPCL for a stake in its Bina refinery," said the source, who asked not to be named as the discussions are private. BPCL plans to double the capacity of the refinery in the next five years and build a petrochemical complex that would require an investment of about 500 billion rupees ($7.24 billion), the source said. Bharat Petroleum did not respond to a request for comment. Petronas and JXTG were not immediately reachable for comment.

Malaysia and Japan likely to buy stakes in India's Bina oil refinery

Sri Lanka's state-run Board of Investment said on Thursday that Oman's government-controlled Oman Oil Co has made it clear it is interested in taking a stake of up to 30 per cent in a new oil refinery project on Sri Lanka's south coast.

"We are aware that Oman Oil Company has registered their firm intention to participate in equity up to 30%, subject to reaching an agreement between the parties," the investment board said in a statement.

The $3.85 billion projects would be Sri Lanka's largest-ever foreign direct investment.

The board also said another Oman entity, Oman Trading International, is willing to supply the entire feedstock requirement of the project, as well as to do the marketing for the resulting refined oil products, such as gasoline.

The main investor in the project - the Singaporean arm of India's Accord Group - has said as well it is fully confident the project will be implemented, according to the board.

Oman's oil ministry on Wednesday denied that it had agreed to make an investment in the refinery. That was only a day after the government in Colombo announced the Arab country's participation.

"No one on this side of the panel is aware of this investment in Sri Lanka," Salim al-Aufi, undersecretary of Oman's ministry of oil and gas, told a news conference.

"It came as news to me, I don't know who is signing the cheque for $3.8 billion," he said.

An industry source familiar with the discussions told Reuters on Wednesday that there had been talks concerning the project that involved Oman but that they were at an early stage.

Any big deal in Sri Lanka involving Indian investment will pose a challenge to China, which until recently had been on track to be the dominant foreign investor on the island.

India has become concerned in recent years about China muscling into Sri Lanka and other countries in a region where India is the traditional power.

China is the biggest buyer of Omani oil, importing about 80 per cent of the Middle Eastern nation's overall crude exports in January, according to an Oman government website.

Sri Lanka's state-run Board of Investment said on Thursday that Oman's government-controlled Oman Oil Co has made it clear it is interested in taking a stake of up to 30 per cent in a new oil refinery project on Sri Lanka's south coast.

Sri Lanka's state-run Board of Investment said on Thursday that Oman's government-controlled Oman Oil Co has made it clear it is interested in taking a stake of up to 30 per cent in a new oil refinery project on Sri Lanka's south coast. "We are aware that Oman Oil Company has registered their firm intention to participate in equity up to 30%, subject to reaching an agreement between the parties," the investment board said in a statement. The $3.85 billion projects would be Sri Lanka's largest-ever foreign direct investment. The board also said another Oman entity, Oman Trading International, is willing to supply the entire feedstock requirement of the project, as well as to do the marketing for the resulting refined oil products, such as gasoline. The main investor in the project - the Singaporean arm of India's Accord Group - has said as well it is fully confident the project will be implemented, according to the board. Oman's oil ministry on Wednesday denied that it had agreed to make an investment in the refinery. That was only a day after the government in Colombo announced the Arab country's participation. "No one on this side of the panel is aware of this investment in Sri Lanka," Salim al-Aufi, undersecretary of Oman's ministry of oil and gas, told a news conference. "It came as news to me, I don't know who is signing the cheque for $3.8 billion," he said. An industry source familiar with the discussions told Reuters on Wednesday that there had been talks concerning the project that involved Oman but that they were at an early stage. Any big deal in Sri Lanka involving Indian investment will pose a challenge to China, which until recently had been on track to be the dominant foreign investor on the island. India has become concerned in recent years about China muscling into Sri Lanka and other countries in a region where India is the traditional power. China is the biggest buyer of Omani oil, importing about 80 per cent of the Middle Eastern nation's overall crude exports in January, according to an Oman government website.

Sri Lanka investment board says Oman Oil keen on refinery project

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Malaysia and Japan likely to buy stakes in India's Bina oil refinery

Sri Lanka investment board says Oman Oil keen on refinery project