Public sector oil explorer ONGC's subsidiary Mangalore Refinery and Petrochemicals Ltd (MRPL) could soon go through with its plan of opening 500 retail outlets.

"‎MRPL board had approved some years ago that 500 retail outlets would be opened at a right time. I feel with the current petrol and diesel prices, the time is now right," said D K Sarraf, Chairman and Managing Director, ONGC.

However, a final call will be taken by MRPL, Sarraf added.

MRPL had first announced the plan in 2010 but it was put on the back-burner as diesel was still sold at controlled prices to retail customers.

Sarraf also said that though ONGC has a license to open retail outlets, it would compete with its subsidiary.

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