New Delhi, Jan 7 (Reporter) Mangalore Refinery and Petrochemicals Ltd (MRPL) on Tuesday said it has entered into a strategic partnership with Indian Strategic Petroleum Reserves Limited (ISPRL) to leverage storage capacity from ISPRL's caverns. The state-owned company said that the agreement would enable MRPL to enhance its crude oil storage capacity, thereby mitigating risks associated with the volatility of global crude oil markets. "This agreement is not merely a contract but a shared commitment to excellence and a promising future," said Mundkur Shyamprasad Kamath, MD, MRPL. MRPL said that it is poised to leverage the added storage capacity to procure economically viable and complex crude grades, boosting its bottom line while ensuring energy resilience. "This partnership sets a benchmark for strategic collaboration in the energy sector and highlights the shared dedication of MRPL and ISPRL to contribute meaningfully to India’s energy ecosystem," the company said. Among the benefits of the collaboration, MRPL said that easing ISPRL caverns would eliminate the need for constructing and maintaining standalone storage facilities, significantly reducing costs. Further it will ensure uninterrupted access to crude oil, even during global supply chain disruptions. "By opting for leased storage, MRPL can allocate capital to other critical areas of its operations, driving overall efficiency and growth," the statement said...////...