ONGC backs MRPL with guarantee for Saudi crude import

ONGC has approved a guarantee for MRPL to import crude oil from Saudi Aramco, easing MRPL’s working capital burden. This support underscores ONGC’s strategic backing of its subsidiary. The move is expected to improve MRPL’s refining throughput and margin visibility.

📊 STOCKS: ONGC, MRPL | 🏢 SECTOR: Energy | #MEDIUMIMPACT #ONGC