New Delhi
Mangalore Refinery and Petrochemicals Ltd (MRPL) are looking to expand its network of petrol pumps in Tamil Nadu, Andhra Pradesh and Telangana, as it looks to tap markets in the vicinity of its refinery, its chairman has said.
MRPL’s (Mangalore Refinery and Petrochemicals Ltd) petrol pump network is currently concentrated in Karnataka and Kerala.
The subsidiary of state-owned Oil and Natural Gas Corporation (ONGC) has forayed into fuel retailing in a limited way, focusing on areas that are close to its oil refinery in Mangalore, Karnataka.
MRPL is continuously focusing on its retail expansion in the states of Karnataka and Kerala and so far has successfully commissioned 32 retail outlets with another 20 retail outlets under various stages of construction , chairman Alka Mittal said in the firm’s annual report for the fiscal ended March 31, 2022.
The number of outlets owned by MRPL has since gone up to 36.
The company, which operates a 15 million tonnes a year oil refinery at Mangalore, plans to add 50 new petrol pumps every year for the next 5-10 years and is looking at entering new geographical areas of Tamil Nadu, Andhra Pradesh and Telangana in near to medium term, she said.
Indian auto fuel retailing space is dominated by public sector (PSU) entities.
Out of the 83,685 petrol pumps in the country, state-owned fuel retailers Indian Oil, Bharat Petroleum and Hindustan Petroleum own 55,035 outlets.
Rosneft-backed Nayara Energy has 6,635 petrol pumps, while a joint venture of Reliance Industries and bp of UK has 1,470 retail outlets. Shell has 326 petrol pumps.
