Diversified PSU Balmer Lawrie & Co is planning to exit its refinery and oil field services business gradually as it is not viable for the company to run the business going forward.

“Our plan is to exit this (refinery and oil field services) business. Over a period of time, there has been a lot of pressure on this segment coming out of MSME. And for us, it is not really viable to run this business,” Balmer Lawrie & Co Chairman and Managing Director Adhip Nath Palchaudhuri said on Thursday.

Palchaudhuri said the refinery and oil field services has always been a very small business for the company. “We are not taking any future orders. We are not bidding for any further projects. So we are kind of tapering this business down,” he informed.

The company’s refinery and oil field services (ROF

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