MRPL to raise refining capacity

As part of its Vision 2022, MRPL has set a target of Rs 5,000 crore net profit

GN Bureau | December 6, 2016


#PSU   #MRPL   #EIL   #Mangalore Refinery and Petrochemicals Ltd   #ONGC  

The company is also looking at scaling up its petrochemical production capacity to clock larger margins, MRPL managing director H Kumar told PTI.

“We have asked Engineers India Ltd (EIL) to do a feasibility study for expansion of our refining capacity from the present 15 million tonnes (mt). Previously, we were targeting 21 mt, but now, we are exploring if 25 mt can be done," he was quoted as saying.

MRPL is a subsidiary of the state-owned Oil and Natural Gas Corporation (ONGC). It is ready to produce Euro-VI fuel and the planned expansion is part of its Vision 2022 with a target of Rs 5,000 crore net profit.

The expansion is seen as a major margin driver, potentially doubling the company's profit per barrel. It is expected to help the company process cheaper, heavier crudes into high-value products like diesel, liquefied petroleum gas and propylene.
 

Comments

 

Other News

Retail inflation crosses 6% mark

Retail inflation based on Consumer Price Index for October has reached 6.09%, whereas year-on-year food inflation, based on Consumer Food Price Index, for October is 8.94%, an official release said on Thursday.   Year-on-year inflation rate based on All India Consumer Price I

Cabinet approves museum at North-South Block complex

The Cabinet Committee on Economic Affairs, chaired by prime minister Narendra Modi, on Wednesday has approved the development of the Yuge Yugeen Bharat Museum (YYBM) at the North and South Block Complex, New Delhi, at an estimated total project cost of ₹3,230 crore, as appraised by the Public Investmen

Cabinet approves extension of Noida metro corridor

The Union Cabinet, chaired by prime minister Narendra Modi, has approved the extension of Aqua Line Metro Rail Corridor from Noida Sector-51 to Greater Noida Sector-04 of Noida Metro Rail Project with corridor for a length of 8.449 km with 5 elevated stations. On operationalization of this corridor, Noid

India reaffirms commitment to climate multilateralism

India has reaffirmed its commitment to climate multilateralism and the principles of Equity and Common But Differentiated Responsibilities and Respective Capabilities (CBDR-RC), calling for a fair, equitable and ambitious outcome at the 31st Conference of the Parties (COP31) to the United Nations Framewo

How the mind can help the body heal itself

Why do some people recover from illness against all odds? Can our beliefs, emotions and consciousness influence the body’s ability to heal? Drawing on over three decades of experience in medicine, research and medical innovation, internationally trained ophthalmologist and author Dr Dinesh Verma ex

1,364 anti-cancer formulations to cost less from today

The National Pharmaceutical Pricing Authority (NPPA), under the Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, has capped trade margins on the Maximum Retail Price (MRP) of 137 anti-cancer drugs. This was based on the recommendations of an Expert Committee constitute

Upcoming Conferences



-->

Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter