return to news
  1. Mangalore Refinery inches up on signing MoU with SOCAR, ONGC

Market News

Mangalore Refinery inches up on signing MoU with SOCAR, ONGC

Upstox

1 min read | Updated on February 17, 2025, 15:44 IST

Twitter Page
Linkedin Page
Whatsapp Page

SUMMARY

Mangalore Refinery and Petrochemicals is a Category 1 Miniratna Central Public Sector Enterprise (CPSE) under the Ministry of Petroleum & Natural Gas. The company refines crude oil.

Stock list

MRPL.webp

Mangalore Refinery inches up on signing MoU with SOCAR, ONGC | Image: Shutterstock

MRPL shares turned positive in the closing session on February 17th, after the company signed an MoU with the Azerbaijan refinery and ONGC. The shares traded 0.55% higher at ₹111 apiece on the NSE at 3:25 pm.

Mangalore Refinery and Petrochemicals (MRPL), The State Oil Company of the Azerbaijan Republic (SOCAR), Oil & Natural Gas Corporation (ONGC), have signed a Tripartite Memorandum of Understanding (MoU) during India Energy Week (IEW) 2025 at Yashobhoomi, Dwarka, New Delhi. This strategic MoU aims to enhance energy cooperation through the mutual supply and trade of crude oil, LNG, and petroleum products between SOCAR and ONGC Group entities.

The Collaboration Framework MoU establishes a structured platform for engagement, facilitating in-depth discussions, information exchange, and the exploration of energy trade opportunities. It also enables the assessment and implementation of viable projects while optimizing supply chain strategies to drive commercial sustainability and operational efficiency.

Mangalore Refinery and Petrochemicals is Category 1 Miniratna Central Public Sector Enterprise (CPSE) under the Ministry of Petroleum & Natural Gas. The company is engaged in the business of refining of crude oil.

Upstox

About The Author

Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

Next Story