Privatisation-bound Bharat Petroleum Corporation Ltd (BPCL) has said its board will on Thursday consider buying out Oman Oil Company in the Bina refinery project in Madhya Pradesh. BPCL board will also consider merging Bharat Gas Resources Ltd(BGRL) with itself, the company said in a filing to the stock exchanges on Tuesday.

BPCL holds 63.68 per cent stake in Bharat Oman Refineries Ltd (BORL), which built and operates a 7.8 million tonne oil refinery at Bina in Madhya Pradesh.

The board would also consider a proposal to approach the Madhya Pradesh government for acquiring 2.69 crore warrants held by it in BORL.

The meeting would also consider "merger of Bharat Gas Resources Ltd (a wholly-owned subsidiary of BPCL) with BPCL," the filing said.

BPCL incorporated BGRL for handling the natural gas business in June 2018.

BGRL is also planning to put up an LNG import terminal along the East Coast of India.

Oman Oil had recently expressed interest to divest its stake in BORL.