Regions :: India/Pakistan
MRPL reports higher sales, readies PP plant, appoints managing director
10:45 AM MDT | August 12, 2014 | Natasha Alperowicz
Mangalore Refinery and Petrochemicals (MRPL; Mangalore, India), a subsidiary of ONGC (New Delhi), reports a 3.2% increase in first fiscal quarter revenues, to 166.5 billion Indian rupees ($2.7 billion). The company posted a Rs360-million loss in the quarter, narrowing it from Rs4.5 billion loss in the first quarter of fiscal 2013/14. Refinery throughput was 3.2 million m.t. compared with 3.27 million m.t. in the year-earlier quarter because of a planned shutdown. MRPL’s phase-three expansion project is in the final stages of completion. The company...
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