ONGC deal will benefit in terms of crude procurement, says HPCL CMD

The deal will be a substantial gain for both the companies in the petrochemical portfolio, says M K Surana

The state-run Hindustan Petroleum Corporation (HPCL) is set to usher in a new era with Oil and Natural Gas Corporation ready to grab a majority stake in the company by January end. On the backdrop of that, HPCL chairman and managing director M K Surana talks to Shine Jacob about the deal and likely MRPL acquisition.

What does this mean to HPCL?

The first thing is that HPCL has a big marketing set up in place. However, we are short of refining capacity. The deal will help HPCL further its refining capacity. ONGC subsidiary Mangalore Refineries and Petrochemicals (MRPL) is