HPCL is keen to takeover MRPL before end of 2018-19: Chairman & MD Surana

HPCL is keen to takeover Mangalore Refinery and Petrochemicals Ltd (MRPL) before the end of 2018-19, as there are a lot of synergies,  Hindustan Petroleum Corp Ltd Chairman and Managing Director Mukesh Kumar Surana said on Wednesday.
 

Oil and Natural Gas Corp (ONGC), India’s biggest oil and gas producer, earlier this year completed the acquisition of HPCL for Rs 369.15 billion. After this, ONGC has two oil refining subsidiaries —  HPCL and MRPL. A move is afoot to bring the two units under one umbrella. Surana said standalone refineries, like MRPL with no marketing infrastructure, do not make big business