Media Release

Mangalore, Jun 6: MRPL crossed another milestone in its performance when it despatched 1.128 MMT  of petroleum products in  May 2007, 8.7% over 1.038 MMT in last year's corresponding period. This includes domestic product off-take and exports. The Industry off-take from MRPL this time was an all-time high of 0.493MMT and major products in demand were diesel (HSD), petrol (MS) & kerosene (SKO).

The demand was higher than the production of MRPL in the month of May 2007, however owing to higher opening inventory this new high in demand could be met and MRPL made the most of the opportunity in the market place. At present MRPL exports fuels to Singapore, Mauritius & Abu Dhabi and last year (2006-07)the earnings from exports  alone were Rs 11636.64 crore.

"The domestic demand is burgeoning as expected, with a major demand for middle distillates and MRPL has risen to the occasion in fuelling the Nation's requirements", says Shri Rajamani, Managing Director, MRPL.

It maybe recalled that MRPL, with its 9.6 MMTPA state of art refinery had set a record of sorts for itself, with the highest ever throughput of 12.51 MMT during the year 2006-07 with 128 % capacity utilization; All the while adhering to performance standards such that MRPL has won the first prize in " Jawaharlal Nehru Centenary Award in energy conservation' for the third consecutive year this year, and has also recently completed 1,254 accident-free days. It maybe noted that reduced Energy Indices save on precious fuel costs.

Recently MRPL had declared Rs 525 crore net profit (41% growth over previous year) and a turnover of Rs32376.8 crore for the year ended 2006-07.