OIL & GAS

MRPL playing active role in nation s crude reserves

The Mangalore Refinery and Petrochemicals Limited (MRPL) is playing an active role in filling the Indian Strategic Petroleum Reserve Limited (ISPRL) underground crude oil caverns at its Mangaluru and Padur facilities.

The Union Ministry of Petroleum and Natural Gas has mandated ISPRL to work closely with public sector oil companies, including MRPL, to achieve the target of filling up Mangaluru and Padur caverns, a press release said here. The target can be achieved by taking advantage of the prevailing very low crude oil prices in the international market, the release said.

The series of crude oil cargoes of varying volumes from one million barrels to two million barrels, being sourced by MRPL, IOCL and BPCL, would be unloaded in the Single Point Mooring (SPM) of MRPL falling under the jurisdiction of NMPT during April and May, before the onset of the monsoon in the region. The ministry had already informed through a tweet that it is going an extra mile to meet the country”s energy security in spite of the COVID-19 challenge.

Crude oil cargoes at low prices are lined up to reach Mangalore port during April and early May to completely fill the strategic petroleum reserves (SPRs) at Mangaluru and Padur, the release said. MRPL managing director M Venkatesh confirmed that the first consignment of two million barrels by MRPL and the second consignment of one million barrels by IOCL have already been successfully unloaded into the caverns.

Taking advantage of the low crude oil prices, ISPRL has started filling the country”s strategic petroleum reserves to enhance the energy security of the nation. MRPL, IOCL, BPCL and HPCL are associated in this exercise to fill the three SPRs located at Visakapatnam, Mangaluru and Padur.

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