MRPL chairman satisfied with company’s performance

MRPL chairman satisfied with company’s performance

Mangalore Today News Network

Mangalore, Sep 4: Mr. R. S. Sharma, the chairman of the Mangalore Refinery and Petrochemicals Ltd. told reporters at a press meet held on Annual Report at MRPL on September 4, Saturday, that the refinery achieved its highest ever distillate yield of 72.8 percent at 12.5 MMTPA operating level in the fiscal year, which ended on March 31, 2010.  

 

 

 

He also said that the company had performed extremely well in spite of the challenging industry scenario and performance results of peers. The company earned a net profit of Rs 1, 112 crore after paying taxes, which is marginally lower than the Rs 1,193 crore profit of the previous year as no MAT credit was available during the year. It also continues to do extremely well in energy conservation and safety management.

The refinery has achieved the lowest energy index of Rs 58.27 MBN. The company has been adjudged as the first in the category of most consistent safety performer in refineries for the year 2009-2010 by Oil Industry Safety Directorate (OISD), he said. The company has successfully completed 1002 days of accident free operations as on March 31, 2010, he informed.

U. K. Basu, the managing director of MRPL, said that the chairman is constantly discussing important issues with the petroleum and finance ministry and that the company has a long-term strategy on marketing. 

The ONGC-MRPL is implementing Phase III of its refinery project at an estimated cost of Rs 12, 412 crore with an objective to increase profitability by increasing the design refining capacity to 15 MMTPA to process more of Low Price High Sulphur/ High Acid Heavy Crude Oils, increasing the distillate yield by upgrading low value Black Oils, producing value added products like Propylene and up gradation of its total diesel pool to superior grade, he added.

Lekshmi M Kumaran, DGM Corporate Communications of MRPL was present on the occasion.