Mangalore Refinery and Petrochemicals Limited (MRPL), is a

division Division or divider may refer to: Mathematics *Division (mathematics), the inverse of multiplication *Division algorithm, a method for computing the result of mathematical division Military *Division (military), a formation typically consisting ...

Oil and Natural Gas Corporation The Oil and Natural Gas Corporation (ONGC) is a central public sector undertaking under the ownership of Ministry of Petroleum and Natural Gas, Government of India. It is headquartered in New Delhi. ONGC was founded on 14 August 1956 by the ...

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 different ...

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

of the

Government of India The Government of India ( ISO: ; often abbreviated as GoI), known as the Union Government or Central Government but often simply as the Centre, is the national government of the Republic of India, a federal democracy located in South Asia, ...

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

Mangalore Mangalore (), officially known as Mangaluru, is a major port city of the Indian state of Karnataka. It is located between the Arabian Sea and the Western Ghats about west of Bangalore, the state capital, 20 km north of Karnataka– ...

. 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 Hexadecane (also called cetane) is an alkane hydrocarbon with the chemical formula C16H34. Hexadecane consists of a chain of 16 carbon atoms, with three hydrogen atoms bonded to the two end carbon atoms, and two hydrogens bonded to each of the 14 ...

). It also has a Polypropylene unit with a capacity of 440,000 million

tonne The tonne ( or ; symbol: t) is a unit of mass equal to 1000 kilograms. It is a non-SI unit accepted for use with SI. It is also referred to as a metric ton to distinguish it from the non-metric units of the short ton ( United State ...

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

octane Octane is a hydrocarbon and an alkane with the chemical formula , and the condensed structural formula . Octane has many structural isomers that differ by the amount and location of branching in the carbon chain. One of these isomers, 2,2,4-t ...

unleaded petrol Gasoline (; ) or petrol (; ) (see ) is a transparent, petroleum-derived flammable liquid that is used primarily as a fuel in most spark-ignited internal combustion engines (also known as petrol engines). It consists mostly of organic com ...

. 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 revenues stood at ₹60,062.02 crore (US$8.4 billion) in 2020. MRPL, which was a joint sector company, become a PSU subsequent to the acquisition of a majority of its shares by

ONGC The Oil and Natural Gas Corporation (ONGC) is a central public sector undertaking under the ownership of Ministry of Petroleum and Natural Gas, Government of India. It is headquartered in New Delhi. ONGC was founded on 14 August 1956 by the ...

. As of June 2020, 71.63% shares were held by

, 16.95% shares were held by HPCL, and the remaining shares were held by financial institutions and the general public. MRPL has been declared a Miniratna (mini jewel), by the

in 2007. Before its acquisition by

in March 2003, MRPL was a joint venture oil refinery promoted by

Hindustan Petroleum Corporation Limited Hindustan Petroleum Corporation Limited (HPCL) is an Indian oil and gas refining company headquartered in Mumbai. Since 2018, ONGC has owned a majority stake in the company. The company is ranked 367th on the ''Fortune Global 500'' list of t ...

(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 pursuant to the DRP raising ONGC's holding in MRPL to 71.63%. On 30 August 2018, MRPL was given approval for a merger with HPCL by

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