ONGC approves $500 million parent guarantee for MRPL to import crude from Saudi Aramco

State-owned Oil and Natural Gas Corp (ONGC) has approved a $500 million parent company guarantee (PCG) in favor of Saudi Aramco on behalf of its subsidiary, Mangalore Refinery and Petrochemicals Ltd (MRPL). The guarantee, valid from September 1, 2026, to August 31, 2028, enables MRPL to import crude oil from Saudi Aramco. The decision was announced by ONGC in an exchange filing on July 28, 2026, following a board meeting. This financial backing ensures MRPL's continued crude supply from one of the world's largest oil producers, supporting India's refining capacity.

First published Aug 4, 01:55 PM UTCUpdated Jul 29, 04:58 AM UTC1 reports · 1 sources

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ONGC approves $500 million parent guarantee for MRPL to import crude from Saudi Aramco

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ONGC approves $500 million parent guarantee for MRPL to import crude from Saudi AramcoThe Hindu: Latest News today from India and the World, Breaking news, Top Headlines and Trending News Videos.RegionalJul 29, 04:58 AM UTC

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