MRPL Declares Force Majeure on Gasoline Exports Amid Gulf Tensions

India's Mangalore Refinery and Petrochemicals Limited (MRPL) has declared force majeure on all gasoline export cargoes for March and April due to disruptions caused by escalating US-Iran tensions affecting crude oil flows through the Strait of Hormuz. MRPL operates a 500,000-barrel-per-day refinery in Karnataka and exports about 40% of its refined fuel output. The company is negotiating with buyers on existing cargoes and exploring alternative crude sources amid supply uncertainties. India maintains crude and refined fuel inventories sufficient for approximately 25 days.