Background

Mangalore Refinery and Petrochemicals Ltd (MRPL), was established in 1988 as a JV between HPCL and IRIL & Associates. In 2003, ONGC acquired the total shareholding of IRIL & Associates and infused further equity capital, thus making MRPL a majority held subsidiary of ONGC. MRPL is engaged in refining of crude oil and provides petro products.

Business Profile

MRPL operates a single refinery plant located at Mangalore, Karnataka. The company is involved in refining of crude oil with crude oil refining capacity of around 9.7 MMTPA. The company produces and exports petro products such as MS, HSD, naphtha, CRMB, ATF, mixed xylene and reformate, among others. As on Mar 31, 2009 the company operated with one retail outlet under HiQ brand. For FY09, the company registered growth of 10% in its direct marketing sales y-o-y. During 2009, the company signed a term contract with Emirates National Oil Company Pvt Ltd, Singapore for export of HSD, ATF and fuel oil. During 2009, the company signed a term contract with Emirates National Oil Company Pvt Ltd, Singapore for export of HSD, ATF and fuel oil. The company also has a long term contract up to July 2010 with State Trading Corporation, Mauritius for supplying approximately 1 MMTPA of petroleum products (MS, HSD, ATF and FO). The company commissioned its second retail outlet in Apr 2009.