Mangalore Refinery and Petrochemicals Limited (MRPL), is a division of

Oil and Natural Gas Corporation The Oil and Natural Gas Corporation Limited (ONGC) is an Indian central public sector undertaking which is the largest government-owned oil and gas explorer and producer in the country. It accounts for around 70 percent of India's domestic pro ...

(ONGC) which is under the

ownership Ownership is the state or fact of legal possession and control over property, which may be any asset, tangible or intangible. Ownership can involve multiple rights, collectively referred to as '' title'', which may be separated and held by dif ...

of the

Ministry of Petroleum and Natural Gas The Ministry of Petroleum and Natural Gas (MOP&NG) is a List of Indian agencies, ministry of the Government of India responsible for the exploration, production, refining, distribution, marketing, import, export, and conservation of petroleum, ...

of the

Government of India The Government of India (ISO 15919, ISO: Bhārata Sarakāra, legally the Union Government or Union of India or the Central Government) is the national authority of the Republic of India, located in South Asia, consisting of States and union t ...

. Established in 1988, the refinery is located at Katipalla, north from the centre of

Mangalore Mangaluru (), formerly called Mangalore ( ), is a major industrial port city in the Indian state of Karnataka and on the west coast of India. It is located between the Laccadive Sea and the Western Ghats about west of Bengaluru, the st ...

. The refinery was established after displacing five villages, namely, Bala, Kalavar, Kuthetoor, Katipalla, and Adyapadi. The refinery has a versatile design with high flexibility to process crudes of various API gravities with a high degree of automation. MRPL has a design capacity to process 15 million metric tonnes per annum and is the only refinery in India to have two hydrocrackers producing premium diesel (high cetane). It also has a

polypropylene Polypropylene (PP), also known as polypropene, is a thermoplastic polymer used in a wide variety of applications. It is produced via chain-growth polymerization from the monomer Propene, propylene. Polypropylene belongs to the group of polyolefin ...

unit with a capacity of 0.44 million metric

tonne The tonne ( or ; symbol: t) is a unit of mass equal to 1,000 kilograms. It is a non-SI unit accepted for use with SI. It is also referred to as a metric ton in the United States to distinguish it from the non-metric units of the s ...

s per year. It is one among the two refineries in India to have two CCRs producing high

octane Octane is a hydrocarbon and also an alkane with the chemical formula C8H18, and the condensed structural formula CH3(CH2)6CH3. Octane has many structural isomers that differ by the location of branching in the carbon chain. One of these isomers ...

unleaded petrol. Currently, the

refinery A refinery is a production facility composed of a group of chemical engineering unit processes and unit operations refining certain materials or converting raw material into products of value. Types of refineries Different types of refineries ...

processes around 14.65 million tonnes of crude per year. The company's revenues stood at ₹60,062.02 crore (US$8.4 billion) in 2020. MRPL, which was a joint sector company, became a

public-sector undertaking Public Sector Undertakings (PSU) in India are government-owned entities in which at least 51% of stake is under the ownership of the Government of India or state governments. These types of firms can also be a joint venture of multiple PSUs. ...

after the acquisition of a majority of its shares by ONGC. As of June 2020, 71.63% shares were held by ONGC, 16.95% shares were held by Hindustan Petroleum Corporation Limited (HPCL), and the remaining shares were held by financial institutions and the general public. MRPL has been declared a Miniratna (mini jewel), by the Government of India in 2007. Before its acquisition by ONGC in March 2003, MRPL was a joint venture oil refinery promoted by HPCL, a public sector company and IRIL & associates (AV Birla Group). MRPL was set up in 1988 with an initial processing capacity of 3.0 million metric tonnes per annum which was later expanded to the present capacity of 15 million metric tonnes per annum. The refinery was conceived to maximise middle distillates, with the capability to process light to heavy and sour to sweet crudes with 24 to 46 API gravity. On 28 March 2003, ONGC acquired A.V. Birla Group's stake and further infused equity capital of ₹600 crores, making MRPL a majority-held subsidiary of ONGC. The lenders also agreed to the

debt restructuring Debt restructuring is a process that allows a private or public company or a sovereign entity facing cash flow problems and financial distress to reduce and renegotiate its delinquent debts to improve or restore liquidity so that it can continu ...

package (DRP) proposed by ONGC, which included, ''inter alia'', conversion of up to ₹3,65,54,884 of the company's loans into equity. Subsequently, ONGC acquired the equity allotted to the lenders under the DRP, raising ONGC's holding in MRPL to 71.63%. On 30 August 2018, MRPL was approved a merger with HPCL by ONGC.

References

*http://newskarnataka.com/mangalore/20000-youths-to-benefit-from-plastic-and-polymer-park-in-mangaluru

External links

Official Website of the MRPL
{{authority control Oil and gas companies of India Oil refineries in India Government-owned companies of India Companies based in Mangalore Energy in Karnataka Oil and Natural Gas Corporation Petrochemical companies of India Non-renewable resource companies established in 1988 Indian companies established in 1988 Energy companies established in 1988 ONGC buildings and structures 1988 establishments in Karnataka Companies listed on the National Stock Exchange of India Companies listed on the Bombay Stock Exchange

See also

References

External links