MRPL ready to refine heavier crude oil after Phase-III expansion, says Managing Director.

Mangalore Refinery and Petrochemicals Limited (MRPL) has posted a stellar profit growth of over 77 per cent in the first quarter with a strong gross refining margin (GRM) of $10 per barrel. Speaking to BTVi, MRPL Managing Director H Kumar says half of the GRM gain was due to inventory. After the Phase-III expansion, MRPL will be able to refine heavier crude oil of API (American Petroleum Institute gravity) ranging 18-20 compared with present 32-33. MRPL may now attain 26-28 average API, Kumar said. Apart from crude, MRPL is now producing 1 million tonnes of LPG and 4,40,000 tonnes of polypropylene, which is mainly a value driver, he said.

HBL