MRPL gets retail foray nod

ONGC, amidst plans to concentrate on exploration and production, is giving shape to its midstream and downstream ambitions through its refinery subsidiary Mangalore Refineries and Petrochemicals (MRPL). “The government has given MRPL approval to enter the retail petroleum business. We have already identified 27 sites and are going ahead in joint venture with Ashok Leyland. We have also sought infrastructure-sharing deals with other state-owned oil marketing firms to get into the aircraft refueling business,” said ONGC Chairman RS Sharma. MRPL has a license to set up 500 outlets and has lined up products under the HiQ brand. MRPL is planning to ink a memorandum of understanding for sharing jet re-fueling facilities with Hindustan Petroleum Corp. Ltd. and Indian Oil Corp. MRPL is also in talks with Airports Authority of India for setting up its own facilities, wherever possible. (February 16, 2007)