MRPL hunts for cheaper crude under U.S. pressure, but aims to keep Russian barrels flowing
MRPL plans to keep buying discounted Russian oil while scouting cheaper alternatives, balancing geopolitics and refinery economics.
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1 day agoMRPL hunts for cheaper crude under U.S. pressure, but aims to keep Russian barrels flowing
Mangalore Refinery and Petrochemicals Ltd signaled it will continue prioritizing the cheapest crude, including Russian grades, while exploring alternatives as U.S. pressure intensifies. Russian oil accounted for roughly 35–40% of MRPL’s Q2 feedstock, aided by sanctions-driven discounts. Management said U.S. crudes remain on the table if economics improve, but pricing has been unfavorable. The 300,000 bpd refiner expects to balance geopolitics with commercial imperatives. Any supply pivot could ripple through margins, product spreads, and import bills for India’s downstream sector.
neutral
1 day agoMRPL hunts for cheaper crude under U.S. pressure, but aims to keep Russian barrels flowing
Mangalore Refinery and Petrochemicals Ltd signaled it will continue prioritizing the cheapest crude, including Russian grades, while exploring alternatives as U.S. pressure intensifies. Russian oil accounted for roughly 35–40% of MRPL’s Q2 feedstock, aided by sanctions-driven discounts. Management said U.S. crudes remain on the table if economics improve, but pricing has been unfavorable. The 300,000 bpd refiner expects to balance geopolitics with commercial imperatives. Any supply pivot could ripple through margins, product spreads, and import bills for India’s downstream sector.
neutral
MRPL hunts for cheaper crude under U.S. pressure, but aims to keep Russian barrels flowing
1 day ago
1 min read
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MRPL plans to keep buying discounted Russian oil while scouting cheaper alternatives, balancing geopolitics and refinery economics.
Mangalore Refinery and Petrochemicals Ltd signaled it will continue prioritizing the cheapest crude, including Russian grades, while exploring alternatives as U.S. pressure intensifies. Russian oil accounted for roughly 35–40% of MRPL’s Q2 feedstock, aided by sanctions-driven discounts. Management said U.S. crudes remain on the table if economics improve, but pricing has been unfavorable. The 300,000 bpd refiner expects to balance geopolitics with commercial imperatives. Any supply pivot could ripple through margins, product spreads, and import bills for India’s downstream sector.
Mangalore Refinery and Petrochemicals Ltd signaled it will continue prioritizing the cheapest crude, including Russian grades, while exploring alternatives as U.S. pressure intensifies. Russian oil accounted for roughly 35–40% of MRPL’s Q2 feedstock, aided by sanctions-driven discounts. Management said U.S. crudes remain on the table if economics improve, but pricing has been unfavorable. The 300,000 bpd refiner expects to balance geopolitics with commercial imperatives. Any supply pivot could ripple through margins, product spreads, and import bills for India’s downstream sector.
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Oct 16, 2025 • 07:59 IST