ONGC plan to bring refining, marketing biz under one roof may get delayed

State-run Oil and Natural Gas Corporation's (ONGC’s) plan to bring its entire refining and marketing business under one umbrella may get delayed further over its differences with Hindustan Petroleum Corporation (HPCL). 

While ONGC wants the merger of Mangalore Refinery and Petrochemicals (MRPL) with ONGC Mangalore Petrochemicals (OMPL) first, sources said HPCL wants all the three to happen simultaneously. “Based on regulatory rules, two back-to-back restructuring cannot happen. If OMPL and MRPL are merged, the HPCL-MRPL merger will take some time. This is why the restructuring process is stuck now,” said an official from one of these companies on the condition of