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.