financetom
Business
financetom
/
Business
/
Coronavirus impact: MRPL reduces production of diesel, petrol and LPG
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Coronavirus impact: MRPL reduces production of diesel, petrol and LPG
Apr 7, 2020 6:00 AM

With the number of vehicles on roads falling sharply in the lockdown period due to the coronavirus spread, the public sector Mangalore Refinery and Petrochemicals Limited (MRPL) has cut down production of petrol and diesel by half.

The demand for diesel and petrol had fallen sharply after the lockdown was announced. MRPL normally produces 2,500 tonnes of LPG, 20,000 tonnes of diesel and 2,500 tonnes of petrol.

The LPG production has now been cut by 25 percent while there has been a 50 percent cut in petrol and diesel production, the company said in a press release here.

Most of the employees of MRPL have been given leave while workers needed for the production unit have been taken on emergency basis. Out of 6,500 employees, only 800 are working now.

The oil produced at MRPL is being distributed all over the state through Indian Oil, HPCL, BPCL and Shell.

In normal courses, MRPL shuts one unit during April for maintenance. At that time, it needs 4,000 workers. As bringing together so many workers for the purpose is cumbersome, the company plans to postpone the annual shutdown this year.

MRPL, which is the only processing centre for crude oil in Karnataka, has ensured that the state and a few southern parts of India did not face hardships on account of petroleum shortage by keeping up its supply continuously.

MRPL general manager (corporate communication), Rudolph Noronha said the company has brought down its production of petrol, LPG and diesel as the demand now is less.

Only workers who are needed for emergencies are now attending work.

.

First Published:Apr 7, 2020 3:00 PM IST

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Altice's Q4 Loss Narrows, Revenue Declines
Altice's Q4 Loss Narrows, Revenue Declines
Feb 13, 2025
08:46 AM EST, 02/13/2025 (MT Newswires) -- Altice USA ( ATUS ) reported a Q4 loss Thursday of $0.12 per diluted share, narrowing from a loss of $0.26 a year earlier. Analysts polled by FactSet expected a loss of $0.12 Revenue for the quarter ended Dec. 31 was $2.24 billion, down from $2.30 billion a year earlier. Analysts surveyed by...
Steve Madden to Acquire Kurt Geiger for $360 Million
Steve Madden to Acquire Kurt Geiger for $360 Million
Feb 13, 2025
08:45 AM EST, 02/13/2025 (MT Newswires) -- Steve Madden (SHOO) said Thursday it agreed to acquire UK-based Kurt Geiger from a group led by private equity firm Cinven for an enterprise value of about 289 million pounds ($360.2 million) in cash. The company said it would fund the acquisition through committed debt financing and cash on hand, adding the transaction...
India's BPCL signs LPG supply deal with Norway's Equinor
India's BPCL signs LPG supply deal with Norway's Equinor
Feb 13, 2025
NEW DELHI, Feb 13 (Reuters) - India's state-run refiner Bharat Petroleum Corp plans to buy propane and butane from Norwegian energy giant Equinor Plc, Indian energy minister Hardeep Singh Puri said on Thursday. The two companies this week signed a preliminary deal, he told a news conference. The agreement, which has a one-year duration, was signed at prices that are...
Deere Q1 Earnings: Sales Drop, Margins Shrink, Inventory Streamlining  And More
Deere Q1 Earnings: Sales Drop, Margins Shrink, Inventory Streamlining And More
Feb 13, 2025
Deere & Co ( DE ) reported a first-quarter 2025 net sales and revenue decline of 30% year-over-year to $8.51 billion, beating the consensus of $7.70 billion. Net sales were $6.809 billion for the quarter, compared with $10.486 billion in 2024. Deere clocked an EPS of $3.19, down from $6.23 in the prior year, beating the consensus of $3.14. Production...
Copyright 2023-2026 - www.financetom.com All Rights Reserved