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.