MRPL inks pact with Indian Strategic Petroleum Reserve to use cavern storage facility for crude oil

Mangalore Refinery and Petrochemicals Limited (MRPL) on Monday signed an agreement with Indian Strategic Petroleum Reserves Limited (ISPRL) to utilise the storage capacity from ISPRL’s caverns.

Mangalore Refinery and Petrochemicals Limited (MRPL) on Monday signed an agreement with Indian Strategic Petroleum Reserves Limited (ISPRL) to utilise the storage capacity from ISPRL’s caverns.

The agreement was signed at Mangaluru by B. Sudharshan, Executive Director (Refinery), and Atul Gupta, Deputy CEO, ISPRL, in the presence of Mundkur Shyamprasad Kamath, MRPL MD, and L.R. Jain, ISPRL CEO and MD.

Mr. Kamath said the agreement enables MRPL to enhance its crude oil storage capacity, thereby mitigating risks associated with the volatility of global crude oil markets.

MRPL in a statement said leasing ISPRL’s caverns eliminates the need for constructing and maintaining standalone storage facilities, significantly reducing costs. The proximity of ISPRL caverns to MRPL and the coast minimises transportation costs and transit times. The partnership ensures uninterrupted access to crude oil, even during global supply chain disruptions and storing diverse grades of crude oil as per MRPL’s requirements provides operational adaptability. By opting for leased storage, MRPL can allocate capital to other critical areas of its operations.

MRPL on Monday donated two state-of-the-art ophthalmology devices, Topcon 3D Optical Coherence Tomography and Topcon Slit Lamp, to District Government Wenlock Hospital, Mangaluru. MRPL has provided the equipment through its CSR initiative, Arogya Samrakshan, at a cost of ₹30 lakh, said a release.

Wenlock Opthalmology Department Head Ajay Kamath said: “These advanced devices will benefit nearly 4,000 to 5,000 patients annually, particularly from underprivileged sections of society. Early detection through this equipment can significantly improve treatment outcomes. In the past, we had to refer critical cases to other hospitals, which posed challenges for economically weaker patients.”

The equipment was formally handed over through a Letter of Intent (LoI) presented by MRPL Officer Steevan Pinto to the Duty Medical Officer of Wenlock.