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MRPL said to have inked term deal with Iraq
Nov. 30, 2018

MRPL said to have inked term deal with Iraq

If sources were to be believed, state-owned refiner, MRPL has inked a term deal with Iraq’s State Organization for Marketing of Oil (SOMO) to buy 1.5 million tonnes of Basra oil in 2019. MRPL, which runs a 300,000 barrel-per-day refinery in India, is seeking to diversify its crude imports. MRPL didn’t comment on the matter.

HPCL and MRPL merger update
July 5, 2018
Source: Economic Times

HPCL and MRPL merger update

If sources were to be believed, HPCL is planning to use a combination of shares, oil bonds and cash to complete the payment required to acquire and merge MRPL. To acquire the 83% of MRPL’s share, HPCL will have to expend nearly ₹11,500 crore. The agreement between HPCL and MRPL might put off the planned merger of ONGC Mangalore Petrochemicals Ltd (OMPL) with parent MRPL, considering tax benefits.

MRPL receives first cargo of Iraqi Basra Crude
July 4, 2018
Source: Economic Times

MRPL receives first cargo of Iraqi Basra Crude

If sources were to be believed, Mangalore Refinery and Petrochemicals Ltd (MRPL) in India bought its first supply of Basra heavy crude from Royal Dutch Shell, through a tender released by the oil major. The delivery of a million barrel of oil is scheduled in September of this year. MRPL might blend the Basra crude with the lighter grades to make the refinery process simpler.

HPCL and MRPL merger likely in 2019
May 23, 2018
Source: Economic Times

HPCL and MRPL merger likely in 2019

HPCL's CMD Mukesh K. Surana has stated that HPCL is looking towards acquiring MRPL by the end of the financial year 2018-19. A lot of synergies will arise from this merger for both HPCL and MRPL, all the while boosting HPCLs refining capacity and adding more products to its output. HPCL was acquired by ONGC earlier this year for Rs. 36,915 crores.

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