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The board of directors of Mangalore Refinery and Petrochemicals Ltd, a subsidiary of ONGC approved its un-audited results for the third quarter of current fiscal. The loss for third quarter of 2013-14 stood at INR 248 crore as against loss of INR 360 crore in corresponding quarter of last year. Throughput for the quarter was 3.75 MMT as against 3.81 MMT in corresponding quarter. Reduction was due to shut down of phase I and plant upsets during the quarter.

The crude throughput and product export committed, anticipating certain progressive commissioning and delay in such schedule, non availability of consistent power and steam from power plant being commissioned by BHEL, resulting in increased fuel and loss during the third quarter of this fiscal, and also reduction in market margin in third quarter have pulled down the performance of the company, Sudhir Vasudeva, chairman, MPRL stated here.

The progressive commissioning schedule of MRPL phase III expansion project is delayed. The last three major secondary processing units, namely viz delayed coker unit/coker hydro treater and petroleum fluidic catalyst cracking unit including power plant remain to be commissioned. The overall project progress as on January 15 is 99.50 Percent. Work progress of CPP by BHEL continues to be a major factor for delayed commissioning of units.

Source-On Request