ONGC may have to wait till FY24 to merge MRPL, HPCL
Company officials privy to the development said that the merger of HPCL and MRPL under conservative assumptions could happen by FY24-end as the MRPL-OMPL merger has to happen first
BusinessToday.In | January 17, 2021 | Updated 10:59 IST
State run oil and gas explorer ONGC s plan to merge its refining subsidiary Mangalore Refinery and Petrochemicals Ltd (MRPL) with Hindustan Petroleum Corp Ltd (HPCL) has got delayed. The process is now expected to be complete by FY24. The merger was in the works with the aim of aligning ONGC s upstream and downstream operations into two verticals. But ONGC has decided to consolidate its refining and petrochemicals business around MRPL first before pushing for the merger.
GAIL’s natural gas pipeline to connect MRPL soon
Mangaluru |
Updated on
Pipeline to cater to 10 city gas distribution companies GAIL’s Kochi-Mangaluru natural gas pipeline, which is supplying natural gas to Mangalore Chemicals and Fertilizers Ltd (MCF), will soon connect other companies such as Mangalore Refinery and Petrochemicals Ltd (MRPL) and ONGC Mangalore Petrochemicals Ltd (OMPL) in Mangaluru.
Addressing a press conference on a digital platform on Saturday, Manoj Jain, Chairman and Managing Director of GAIL, said that Prime Minister Narendra Modi will dedicate GAIL’s Kochi-Mangaluru natural gas pipeline to the nation on January 5.
Stating that the 450-km pipeline is already supplying natural gas to MCF, he said, “We will shortly be connecting OMPL and MRPL for supplying gas to them. We expect to connect MRPL and OMPL within January.”