Current Update | "Official website of Mangalore Refinery and Petrochemicals Limited (A Subsidiary of Oil and Natural Gas Corporation limited), Ministry of Petroleum and Natural Gas, Government of India."

Mangalore Refinery & Petrochemicals Ltd (MRPL) a Schedule A ONGC Subsidiary company, yesterday achieved the feed-cut in to Petrochemical Fluidized Catalytic Cracking Unit (PFCCU), one of the major secondary process units in its Phase III .

MRPL’s PFCCU, with design capacity of 2.2 MMTPA, is the second such unit in the country and it can produce about 20% of its product as polymer grade propylene apart from almost 25% of product as LPG. The PFCCU will enable MRPL to triple the LPG production from this 15MMTPA grassroot refinery.

The technology of the process is licensed from Technip Stone & Webster International Inc. and the Project was executed by Engineers India Ltd.

Says Shri Vijay Joshi, Director Refinery, MRPL “Currently the unit is under stabilization. The products- LPG, Naphtha, Light Cycle Oil have been routed to respective destinations.”

With the commissioning of PFCCU, MRPL has achieved a major milestone.

Additional Info :

In April 2014, MRPL had commissioned the 3.00 MMTPA Delayed Coker Unit (DCU) , another major secondary processing facility of the Phase-III that converts the Short residue(bottoms) which is a low value product into high value products viz Gasoil, Naphtha , LPG.

The Crude Unit, Diesel Hydrotreater and Hydrogen units of MRPL’s Phase III Expansion and Upgradation Project with an outlay of ` Rs12,160 Cr were already under operation for the past 1 1/2 to 2 years. In August 2013 SPM was made operational and the first VLCC carrier was received on 18th March 2014.

With Phase III becoming fully operational, MRPL’s top line and bottom line of the company is expected to improve significantly.

MRPL registers 3.2% higher turnover

Date:

11th August, 2014

The Board of Directors of Mangalore Refinery and Petrochemicals Limited, a subsidiary company of ONGC and Schedule A Mini Ratna company, approved its un-audited (Limited Review) results for the first quarter 2014-15.

The Company’s refining throughput was 3.20 MMT as against 3.27 MMT in the corresponding previous quarter; the shortfall is attributed to planned shutdown. The GRM was lower at $ 0.66 /bbl as against $ 2.94 /bbl during the corresponding quarter, due to increased fuel and loss in a scenario of part commissioning of refinery expansion project. The Company has posted a marginal loss of ` 36 crore after adjustment of tax as against loss of ` 454 crore after adjustment of tax during the corresponding previous quarter.

HIGHLIGHTS DURING Q1 (2014-15):

Particulars	Q1
Particulars	2014-15	2013-14
Throughput (MMT)	3.20	3.27
Exports (MMT)	1.18	1.55
Gross Turnover (Rs. in Crore)	16,653	16,134
Exports (Rs. In Crore)	5,746	6,928
EBIDTA (Rs. In Crore)	74	(207)
PBT (Rs. In Crore)	(74)	(454)
PAT (Rs. In Crore)	(36)	(454)
GRM ( US$/BBL)	0.66	2.94
GRM Break up
Operating GRM (Rs. In Crore)	60	274
Inventory gain/(loss) (Rs. In Crore))	34	148

FINANCIAL PERFORMANCE Q1 FY 2014-15:

MRPL recorded marginal loss of ` 36 Crore after adjustment of tax in the1st Quarter 2014-15 as against loss after adjustment of tax ` 454 in the corresponding previous quarter.
The company has adopted depreciation rate in line with the new schedule II to the Companies Act,2013. The depreciation charge is lower by ` 82.26 crore as compared to earlier years due to increase in useful life prescribed by the new Companies Act,2013.

AWARDS, RECOGNITION AND ACHEIVEMENTS:

MRPL is certified for Energy Management System ISO 50001, confirming its commitment to energy conversation.
Federation of Karnataka Chamber of Commerce and Industry has awarded MRPL with a special recognition certificate for its export performance for the year 2013-14.

MARKETING INTITIATIVES:

MRPL has entered into a contract for next three years with Shell India Markets(P) Ltd. (Indian arm of the Royal Dutch Shell) for supply of Motor Spirit and High Speed Diesel.
The Company while retaining strong market presence in its Refinery zone for products (viz. Bitumen & CRMB) being marketed to direct customers, the Fuel oil market share has come down due to discount philosophy of the players in the market.
The company pursuant to commissioning of Delayed Coker Unit has been selling petcoke from April 2014. There is considerable demand for the product and has been able to sell substantial quantity of petcoke produced.

PHASE III REFINERY PROJECT:

MRPL Phase III Expansion project is in final stage of completion and has achieved an overall progress of 99.74% as on 15.07.2014. During the first quarter of 2014-15 , the company has commissioned the Delayed Coker Unit (DCU), Coker Hydro Treater Unit (CHTU) and two trains out of 3 trains of Sulphur Recovery Unit (SRU). Petrochemical Fluidised Catalytic Cracking Unit (PFCCU) and one train of Sulphur Recovery Unit (SRU) shall be commissioned shortly within this month. The physical progress of Polypropylene unit (PPU) is 96.30% and is expected to be mechanically completed by October 2014.

Shri Vishnu Agrawal to officiate as MD, MRPL

Date:

1st August, 2014

Shri Vishnu Agrawal, Director Finance, MRPL has been given additional charge as Managing Director of Mangalore Refinery & Petrochemicals Ltd (MRPL), a Mini-Ratna I and Schedule A subsidiary of ONGC, from today.

He took over from Shri PP Upadhya, who superannuated on 31st July 2014.

Shri Agrawal who has been serving as Director Finance on the Board of MRPL from April, 2011, also held additional charge of HR, till recently. He also serves on the Boards of Shell MRPL Aviation Fuels and Services Limited (SMAFSL) and Mangalore SEZ Limited (MSEZ) as Director and is a member on various Board Level Committees of all the three Companies. He is also a special invitee on the Board of ONGC Mangalore Petrochemicals Limited (OMPL) and also a member of the committee of Indian Strategic Petroleum Reserves Limited (ISPRL), specially formed to negotiate with prospective partners.

He has been an active member of different high powered committees like ESC, BPO and IWG etc. for more than a decade, representing ONGC and MRPL. Shri Agrawal is also industry coordinator for import of crude oil from Iran and has been instrumental in maintaining uninterrupted crude supplies from Iran, even during these turbulent times.

Shri Vishnu Agrawal was actively involved in MRPL governance from June, 2010 as Group General Manager (Finance), even while he was General Manager, Heading ITD and Treasury Management, at ONGC.

Shri Agrawal had joined ONGC in June, 2003 as DGM (Head-Integrated Trading Desk - ITD), and was elevated to the post of General Manager, Heading ITD and Treasury Management in 2009.

Prior to his joining ONGC, he held various positions in Indian Oil Corporation Ltd (1982-2003)- in Product Accounting, Inter-oil Company Transactions, managing Indirect taxes (Customs/ Excise) of bonded installations for imported and indigenous products and International Trade in Corporate Office and managing one of the largest depots of IndianOil.

Shri Vishnu Agrawal is a fellow member of the Institute of Chartered Accountants of India and has over 34 years of functional experience in Finance and Accounts, Commercial, International Trade & Shipping, Treasury & Foreign Exchange, Corporate Finance, Taxation & Insurance, Refinery Operations, Marketing, Management Information Systems – Primarily in Oil Sector (both in downstream and upstream sector). He is credited with contributing to the development of various systems and procedures in sync with scaled up computerization.

Shri Vishnu Agrawal has travelled extensively covering more than 18 countries in the course of conducting his business responsibilities, for negotiating contracts and strategic business meetings.