MRPL Halts Russian Crude Imports, Explores Venezuelan Oil Amid Sanctions Compliance

Mangalore Refinery and Petrochemicals Ltd (MRPL) has stopped importing and processing Russian crude oil to comply with Western sanctions, with no expected disruption to its exports, which account for about 40% of its refined fuel output. The company sources around 40% of its crude from the Middle East and is exploring Venezuelan oil purchases if commercially viable. Higher margins on refined fuel exports are offsetting the loss of Russian crude. MRPL is also expanding its retail fuel network to boost profits.