MRPL to launch 103 retail outlets by 2013

Mangalore Today News Network

Mangalore, July 28: The Mangalore Refinery and Petrochemicals Ltd. (MRPL), a subsidiary of the Oil and Natural Gas Corporation, announced that it will launch 103 retail outlets by the end of March 2013. MRPL Chairman R. S. Sharma told reporters after announcing the results of the first quarter that the company has received the board’s approval to open some more fuel stations.

Currently, the company, which is already permitted to launch 500 retail outlets, has two outlets under the HiQ brand.

U. K. Basu, the managing director of MRPL said that the company will open 28 more outlets in 2011 – 12 and another 95 by March 2013. He said that MRPL is currently evaluating 60 – 70 retail outlets, including sites of Shell India, which are for sale. Shell India, the domestic subsidiary of Royal Dutch Shell Plc, placed on sale 20 of its 80 retail outlets and 20 sites acquired by it to set up outlets.

MRPL is expected to cause a rise in the number of companies. India Oil Corporation, Bharat Petroleum Corporation, Hindustan Petroleum Corporation, Reliance Industries, Shell India, Essar Oil, ONGC, and Numaligarh Refinery are the fuel marketing companies in India.