ONGC subsidiary Mangalore Refinery and Petrochemicals (MRPL) has approved a proposal to merge ONGC Mangalore Petrochemicals (OMPL) with itself. This step is expected to consolidate the petrochemical business of state-owned upstream major Oil and Natural Gas Corporation (ONGC), leading to the rationalization of costs across petrochemical product stream and giving MRPL access to a wider range of products and flexibility to optimize its gross refinery margin (GRM). ONGC holds almost 72% in MRPL. In OMPL, ONGC holds 49% stake while 51% is held by MRPL.
“Dovetailing the operations will give us an edge in backward integration and the synergy will deliver tremendous advantages,” said MRPL managing director H Kumar.
OMPL is a green field petrochemical project at the Mangaluru Special Economic Zone, adjacent to MRPL’s own 15 mln mtpa refining and petrochemical complex. It comprises an aromatic complex for production of Paraxylene and Benzene. The complex is designed to produce 0.9 mln mtpa of Paraxylene and 0.3 mln mtpa of Benzene.
10-Jul-15 
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