Mangalore Refining and Petrochemicals (MRPL) has started the process of merger with ONGC Mangalore Petrochemicals (OMPL) which operates an aromatics complex next door. It will give higher flexibility and value to optimize the former’s gross refining margin (GRM). Both MRPL and OMPL are subsidiaries of the Oil and Natural Gas Corp. (ONGC), India’s state-owned oil exploration firm.
The proposed merger can lead to rationalization of costs across petrochemical product streams and give MRPL access to a wider range of products.
MRPL, a subsidiary of state-run exploration firm Oil and Natural Gas Corporation (ONGC), runs a coastal refinery in southern Karnataka state with a capacity of 300,000 bpd.
