+
MRPL gets initial shipment from ONGC's deep-sea venture
OIL & GAS

MRPL gets initial shipment from ONGC's deep-sea venture

The Mangalore Refinery and Petrochemicals (MRPL) announced that it had received the first shipment of crude oil from the Oil and Natural Gas Corporation's (ONGC) KG-DWN 98/2 Block.

ONGC had initiated production from the deep-water KG-DWN 98/2 Block in the Krishna Godavari (KG) basin off the Bay of Bengal on the Kakinada coast in January. Prime Minister Narendra Modi had flagged off Swarna Sindhu, the vessel carrying crude oil to MRPL on March 2.

The sweet (low sulphur) indigenous crude is expected to undergo transformation into various fuels and petrochemicals at MRPL, making a significant contribution to the Athmanirbhar Bharath mission. MRPL received 60,000 metric tonne of crude oil or processing at its refinery at New Mangaluru Port.

Sanjay Varma, MRPL director (refinery), informed that the crude oil would be processed soon. He stated, "MRPL has software that selects the crude on an economic basis and according to other factors. We have the technical capability to process highly viscous crude to light crude, and high sulphur to low sulphur crude." Varma added, "We have 250 varieties of crude in our basket, and this refinery has the achievement of processing 100 types of crude. The refinery receives crude oil from various parts of the world, including the Middle East and from Mumbai High field, Mangala field in Rajasthan, and others."

The current production in KG-DWN 98/2 Block is 12,000 barrels per day, utilizing a floating production and storage offloading (FPSO). Once it reaches its peak production, which is 45-50,000 barrels per day, it is expected to contribute to a 7% incremental oil and gas production at a national level. About 80-85% of the crude oil is imported, reflecting the government of India's emphasis on boosting domestic production and reducing reliance on crude imports.

Varma mentioned that factors like shipping cost, insurance, distress crude, or issues such as an attack in the Red Sea affect the landing cost of crude. MRPL MD Mundkur Shyamprasad Kamath stated that the team would evaluate the value and characteristics of crude oil once processing begins. Typically, domestic crude oils exhibit low sulphur content and medium viscosity.

The Mangalore Refinery and Petrochemicals (MRPL) announced that it had received the first shipment of crude oil from the Oil and Natural Gas Corporation's (ONGC) KG-DWN 98/2 Block. ONGC had initiated production from the deep-water KG-DWN 98/2 Block in the Krishna Godavari (KG) basin off the Bay of Bengal on the Kakinada coast in January. Prime Minister Narendra Modi had flagged off Swarna Sindhu, the vessel carrying crude oil to MRPL on March 2. The sweet (low sulphur) indigenous crude is expected to undergo transformation into various fuels and petrochemicals at MRPL, making a significant contribution to the Athmanirbhar Bharath mission. MRPL received 60,000 metric tonne of crude oil or processing at its refinery at New Mangaluru Port. Sanjay Varma, MRPL director (refinery), informed that the crude oil would be processed soon. He stated, MRPL has software that selects the crude on an economic basis and according to other factors. We have the technical capability to process highly viscous crude to light crude, and high sulphur to low sulphur crude. Varma added, We have 250 varieties of crude in our basket, and this refinery has the achievement of processing 100 types of crude. The refinery receives crude oil from various parts of the world, including the Middle East and from Mumbai High field, Mangala field in Rajasthan, and others. The current production in KG-DWN 98/2 Block is 12,000 barrels per day, utilizing a floating production and storage offloading (FPSO). Once it reaches its peak production, which is 45-50,000 barrels per day, it is expected to contribute to a 7% incremental oil and gas production at a national level. About 80-85% of the crude oil is imported, reflecting the government of India's emphasis on boosting domestic production and reducing reliance on crude imports. Varma mentioned that factors like shipping cost, insurance, distress crude, or issues such as an attack in the Red Sea affect the landing cost of crude. MRPL MD Mundkur Shyamprasad Kamath stated that the team would evaluate the value and characteristics of crude oil once processing begins. Typically, domestic crude oils exhibit low sulphur content and medium viscosity.

Next Story
Infrastructure Urban

Budget Proposal Aims to Boost Investments

The recent budget proposal has introduced measures designed to promote investments and generate job opportunities across various industries, as reported by the Economic Times. This initiative seeks to stimulate economic activity and strengthen the country's growth trajectory by encouraging both domestic and foreign investments. Key aspects of the proposal include targeted incentives for sectors poised for expansion, such as renewable energy, infrastructure, and technology. The government aims to create a more favorable investment climate by offering tax benefits, subsidies, and streamlined reg..

Next Story
Infrastructure Urban

DGTR Proposes Anti-Dumping Duty on Aluminium

The Directorate General of Trade Remedies (DGTR) has proposed imposing an anti-dumping duty of up to Rs.577 per tonne on aluminium frames imported from China, as reported by the Economic Times. This move aims to address concerns about unfair trade practices and protect the domestic aluminium industry from the adverse effects of low-cost imports. The proposed anti-dumping duty comes in response to allegations that Chinese aluminium frames are being sold in the Indian market at prices below fair market value. Such practices are deemed harmful to domestic manufacturers, potentially leading to ma..

Next Story
Infrastructure Urban

Indian Financial System Resilient Amidst Challenges

The Reserve Bank of India (RBI) Deputy Governor M. Rajeshwar Rao has emphasized the robust nature of the Indian financial system despite global economic headwinds, according to Economic Times. Rao?s comments reflect confidence in the stability and resilience of India's financial sector amidst a backdrop of international economic uncertainties and financial volatility. Rao highlighted that India?s financial system is well-equipped to handle external shocks due to its solid regulatory framework and prudent risk management practices. The country?s banking sector has demonstrated resilience throug..

Talk to us?