Mangalore Refinery and Petrochemicals Limited (MRPL) is a schedule `A' Miniratna Central Public Sector Enterprise (CPSE) under the Ministry of Petroleum & Natural Gas. It is a subsidiary of Oil and Natural Gas Corporation Limited (ONGC). The company's 15 Million Metric Tonne Refinery is located north of Mangaluru city in Dakshina Kannada District of Karnataka. MRPL with its parent company ONGC owns and operates ONGC Mangalore Petrochemicals Limited (OMPL) a petrochemical unit capable of producing 1 Million Tonnes of Para Xylene. OMPL situated in the adjacent Mangalore Special Economic Zone (MSEZ) is integrated with the refinery operations. Para Xylene from OMPL is sold in the export market.Shell MRPL Aviation Fuels and Services Limited (SMA) a 50:50 joint venture between MRPL and Shell Gas B.V. (Shell) a step down subsidiary of Royal Dutch Shell Plc Netherlands markets aviation turbine fuel (ATF) to airlines both domestic as well as International carriers. SMA currently procures ATF from MRPL Refinery Complex and supplies at Bengaluru Goa Mangalore Hyderabad Chennai Calicut and Madurai. SMA also services International Carriers through alternative supply arrangement at Mumbai Delhi and Kolkatta.MRPL was incorporated in 7th March of the year 1988 and commenced a business in 2nd August as a joint venture oil refinery promoted by Hindustan Petroleum Corporation and Indian Rayon & Industries Limited (IRIL) & Associates (AV Birla Group). The Company made a mega Public Issue consisting 43160000 16% Secured Redeemable Partly Convertible Debentures (PCDs) of Rs.135/- each aggregating to Rs.582.66 crores in the year 1993 and also 28000000/- 17.5% Secured Redeemable Non Convertible Debentures of Rs.200/- each (with detachable Equity Warrants) aggregating to Rs.560 crores. During the same year MRPL tied up for the process technologies with internationally reputed technology suppliers. It commissioned a 45 MW cogeneration power plant in September of the year 1995. MRPL commissioned its three million tonnes refinery towards the end of 1995-96 and it has been operating at more than 100 per cent capacity. In the year 1998 The Company had entered into an agreement with the National Securities Depository Limited (NSDL) to facilitate investors to hold the Shares in the electronic form. MRPL signed a crude-sourcing deal with the Chevron-Texaco combine in the year 1999. During the year 2000 the company and Reliance Petroleum had entered into First World markets with Petro-products like motor spirit at prices which are not only competitive but have also contributed to the bottom lines of these companies. MRPL had enhanced its refining capacity to 12 million tonnes through a cost-effective process of debottlenecking some units. ICRA had downgraded the non-convertible debenture program in the year 2001 and also the partially convertible debenture programme of the company. The refining capacity was expanded to 9 MMT p.a from 3 MMT p.a in April of the year 2001 and commercial production started during the year. In 2003 ONGC and MRPL had signed a Memorandum of Understanding for the supply of crude oil. As at 28th March of the year 2003 ONGC acquired the total shareholding of 37.39% held by A.V. Birla Group and further infused equity capital of Rs.600 crores consequently made MRPL a majority held subsidiary of ONGC. The Company had contributed Rs 20 crore to New Mangalore Port Trust towards construction of new jetty at the port for exclusive use of the company. Further it is participating as an equity shareholder in the 364 km long cross country multi product Mangalore-Hassan-Bangalore pipeline which will help the company in accessing wider consumption areas for its products. The Hassan-Bangalore Pipeline project of 367 KM long was operational and the first parcel of HSD was transported through this pipeline and was delivered at Bangalore on 1st August of the year 2003. The Centre for High Technology (CHT) selected the MRPL for the Jawaharlal Nehru centenary awards under energy performance of refineries for the year 2003-04. Shell made tie-up with MRPL for Petro products in the year 2004. During the year 2004-05 based on the MOU with ONGC the company purchased 3.7 MMT Mumbai High Crude on pricing formula applicable to other PSU Refineries. MRPL had signed a pact with Saudi Iran firms for crude supply in the year 2005 also in the same year; the company had forged alliance with Ashok Leyland for retail outlets. The Company forged alliance with Abu Dhabi firm in the year 2006 and MRPL had inked an agreement with Mauritius Company. In the identical year ICRA Ltd had assigned an Issuer Rating of IR AAA to the company. During the year 2006-07 the company took implementation of a large Refinery Upgradation and Expansion project at a cost of Rs.7943 crore. For Aromatics Project worth of Rs.4852 crore ONGC and MRPL had incorporated a Joint Venture company under the name of ONGC Mangalore Petrochemicals Ltd (OMPL). In July of the year 2007 The Company had entered into a contract with State Trading Corporation (STC) Mauritius to supply petroleum products and also in the same year in September MRPL had signed a 4-year product supply agreement (extendable by another two years) with Shell India Marketing. As at January 2008 MRPL along with Shell Aviation made a landmark agreement for the purpose of entering an exclusive joint venture to market and supply aviation fuel. MRPL sold its first spot cargo to Iran in April 2008. On 23 June 2008 ONGC and MRPL announced withdrawal from Kakinada Refinery & Petrochemicals Limited (KRPL) and Kakinada Special Economic Zone (KSEZ) Projects. The Management of Oil and Natural Gas Corporation Ltd (ONGC) and its subsidiary Mangalore Refinery & Petrochem Ltd (MRPL) has been considering ways and means to establish a Greenfield refinery in the SEZ at Kakinada. There have been various issues affecting the steering of Projects of Kakinada Refinery & Petrochemicals Ltd (KRPL) and Kakinada Special Economic Zone (KSEZ). Considering these various factors the Management of ONGC and MRPL feel that it will be appropriate not to continue as equity partners in these two projects. Accordingly in the meeting of Board of Directors of KRPL and KSEZ held on 23 June 2008 the Management of ONGC and MRPL has informed that they have decided to withdraw from the two Projects with immediate effect. ONGC's proposed equity participation through its subsidiary MRPL was 46% in KRPL and 26% in KSEZ.The Board of Directors of ONGC at its meeting held on 23 July 2009 approved the Investment proposal of MRPL for installation of a Polypropylene unit integrated with the MRPL Phase-3 complex facilities which is under implementation with an estimated Capex of Rs 1803.78 crore. The Project envisages value addition through conversion of Polymer grade propylene produced from the Petrochemical Fluidised Catalytic Cracking Unit (PFCCU) being implemented under the Phase-3 Refinery Project to Polypropylene. The nameplate capacity of the Polypropylene plant is 440000 TPA. The completion of Basic Design Engineering package and execution of the project is targeted in 30 months. The Polypropylene produced from MRPL complex would help in bridging the gap between supply and demand in the southern region of India.The MRPL Board in its meeting held on 16 February 2010 decided to increase the name-plate capacity/installed capacity of its refinery (Phase- I and Phase- II units) from the existing 9.69 MMTPA to 11.82 MMTPA considering the successful utilization of Design Margins available in the units over a period of 4 years. The cost of the expansion project is estimated at Rs 12412 crore. The mega Project will be funded through a 2:1 debt equity ratio. The equity portion will be financed using the MRPL internal accruals and the debt would be raised from the market.With the commissioning of Crude and Vacuum Distillation Unit-III (CDU / VDU-III) on 29 March 2012 production went on stream from the Phase-III Refinery Expansion-cum-Upgradation Project of MRPL. Thus the name plate capacity of MRPL Refinery went up to 15 MMTPA from 11.82 MMTPA.On 6 June 2012 MRPL announced that it has been granted special tax incentives/concession package by the Karnataka state government for a period of 15 years comprising of entry tax CST exemption and VAT deferment equal to 100% and 60% of eligible gross VAT for first 3 years and balance 12 years respectively. The entry tax on capital goods bought during construction is also exempted during project execution stage.On 8 July 2013 MRPL announced that it has been upgraded from Schedule 'B' status to Schedule 'A' status by Department of Public Enterprises (DPE) Government of India (GOI) with effect from 4 July 2013. This implies greater autonomy to the management growth in organizational hierarchy besides placing MRPL in a better position in the international competitive market.On 2 September 2013 MRPL announced that it has successfully commissioned Single Point Mooring (SPM) system off Tannirbavi coast. This facility will enable the company to receive crude in Suez Max/VLCC vessels which in turn will give freight economics and allow access to West African and Latin American crudes. This facility will also decongest existing berth facility at NMPT port for enhanced capacity operation of the refinery and reduce the incidence of demurrage. This facility is also intended for crude receipt by the Indian Strategic Petroleum Reserve Limited underground cavern for storage of crude at Mangalore. Commissioning of the SPM is expected to improve the bottom line of the company MRPL's Delayed Coker Unit (DCU) of 3 MMTPA which is part of the Refinery Up-gradation cum Expansion Project went on stream on 3 April 2014. With this the Fuel Oil production will come down drastically with corresponding increase in high value products.On 27 August 2014 MRPL announced that the Petro Fluidized Catalytie Cracking (PFCC) Unit has been successfully commissioned on 27 August 2014 in Phase-III project of the Company and products are being routed to respective destinations. This will increase LPG light distillates and production of Propylene which is a feed for Polypropylene Unit.On 8 December 2014 MRPL announced that the company has obtained a bulk supply order of petcoke form M/S Ramco Cements Ltd. to supply 6000 metric tonnes of petcoke by barge from NMPT Mangalore. This is the first major bulk supply of petcoke by barge.The Board of Directors of MRPL at its meeting held on 9 February 2015 approved acquiring of major stake in ONGC Mangalore Petrochemicals Limited (OMPL). MRPL was holding 3% of the paid up equity of OMPL which has been increased to 46% by purchasing fully paid up equity shares from individual shareholders.On 28 February 2015 MRPL announced that ONGC Mangalore Petrochemicals Limited (OMPL) has become a subsidiary of the company. Following allotment of shares to MRPL by OMPL MRPL is holding 51.002% stake in OMPL.MRPL successfully started commercial production of Polypropylene from its Polypropylene (PP) Plant as part of its Phase III Refinery expansion and upgradation project on 18 June 2015. The plant has capacity to produce 440000 TPA polypropylene. The Feed Stock for the Polypropylene plant polymer grade propylene is being produced from upstream Petrochemical Fluidised Catalytic Cracking Unit (PFCCU). With this MRPL's Phase-III of refining expansion is fully completed.The Board of Directors of MRPL at its meeting held on 8 July 2015 approved a Scheme of Amalgamation between the company ONGC Mangalore Petrochemicals Limited (OMPL) and their respective shareholders and creditors for the amalgamation of OMPL into and with the company in terms of Section 391-394 of Companies Act 1956 and other relevant provisions of the Companies Act 1956 and Companies Act 2013 (Scheme). OMPL is a subsidiary of MRPL wherein MRPL holds 51% and Oil and Natural Gas Corporation Limited holds 49% of the issued subscribed and paid-up share capital. OMPL is primarily engaged in developing and operating a green field petrochemical project consisting of an aromatic complex situated in Mangalore Special Economic Zone for production of Para-xylene and Benzene.On 7 October 2015 MRPL signed a Memorandum of Understanding (MOU) with New Mangalore Port Trust (NMPT) to study the feasibility of setting up an LNG Re-gasification terminal at Mangalore. In February 2018 MRPL inaugurated its state of the art company owned company operated (COCO) retail outlet at Panambur Mangalore. This retail outlet is part of MRPL's retail expansion plan in the states of Karnataka Goa and Kerala. MRPL moved its first cargo of Polypropylene (PP) for export in February 2018. In March 2018 the company commissioned its first ever dealer owned dealer operated (DODO) retail outlet at Mandya in Karnataka.