New Delhi, July 6

Mangalore Refinery & Petrochemicals Ltd (MRPL), a subsidiary of ONGC, will export fuel worth $2 billion to Mauritius over a three-year period starting August. For this, MRPL on Friday signed an agreement with the State Trading Corporation (STC) of Mauritius.

Speaking at the occasion, Mr R.S. Sharma, Chairman and Managing Director of ONGC, and Chairman MRPL, said that MRPL’s 9.69-million tonne (mt) refinery will export one mt per annum during the period.

Last June, MRPL had for the first time entered into a term deal with STC for export of petrol, diesel, aviation turbine fuel (ATF), and fuel oil. The one-year contract expires this month-end and would be replaced by this three year contract, from August 2007 to July 2010. “The total value of the three-year contract is $2 billion,” Mr Sharma said.

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