'We've Adequate Crude Oil To Sustain...': MRPL Denies Rumors Of Shutdown Amid Israel-Iran War

Mangalore: The Mangalore Refinery and Petrochemicals Ltd (MRPL) on Saturday denied rumours that it has started shutting down parts of its 300,000-barrel-per-day refinery due to crude oil shortages linked to the ongoing war between US-Israel and Iran in the Middle East. In an official statement, the company stated that it is operating normally and it has lined up adequate quantities of crude oil to sustain operations. The clarification came after a social media post claimed the the state-controlled refiner had begun shutting units because of feedstock constraints.

MRPL flagged the “factually incorrect” tweet by 'OilPrice.com (@OilandEnergy), which had posted, “Indian state-controlled refiner MRPL has started shutting down parts of its 300,000 b/day Mangalore refinery due to feedstock shortages as Middle Eastern oil remains stuck in the Gulf.”

Denying the false information, MRPL said, “We hereby clarify that MRPL denies the aforesaid rumour/tweet which is factually incorrect and herby confirms that MRPL is operating normal and it has lined-up adequate quantities of crude oil to sustain operations.”

The company’s response comes at a time when global oil markets are on edge due to the escalating Iran-Israel war, which has disrupted energy supply routes and triggered volatility in crude prices worldwide. The situation has alarmed global markets because of the Iran's central role in crude oil production and exports.

One of the biggest concerns is the Strait of Hormuz in Iran, which is a narrow maritime corridor through which nearly one-fifth of the world’s oil supply passes. Any threat to shipping in this region directly impacts global crude availability and pricing.

India imports a significant portion of its crude requirements from the Middle East. Therefore, any sustained disruption in supply chains of oil could have implications for domestic prices.

Also Read- India’s Energy Security: Can New Delhi Comfortably Weather The Israel-Iran Conflict?