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Mangalore Refinery & Petrochemicals Ltd. ( (IN:MRPL) ) has shared an announcement.
Mangalore Refinery and Petrochemicals Ltd. has denied social media reports claiming it has begun shutting down parts of its 300,000 barrels-per-day Mangalore refinery due to crude feedstock shortages linked to Middle Eastern supply disruptions. The refiner said operations are normal and that it has secured adequate crude oil volumes to sustain refining activities, aiming to reassure investors, customers, and lenders about business continuity and supply reliability.
The company’s clarification, issued to both the BSE and NSE under market disclosure rules, challenges the credibility of the widely circulated tweet and underscores its intent to counter misinformation that could unsettle markets. By emphasizing sufficient crude availability and normal plant operations, MRPL seeks to protect its market reputation and signal operational resilience amid concerns over Gulf-region oil flows.
More about Mangalore Refinery & Petrochemicals Ltd.
Mangalore Refinery and Petrochemicals Ltd. is an Indian government-owned, Schedule ‘A’ enterprise and a subsidiary of Oil and Natural Gas Corporation Ltd., operating a major refinery complex in Mangaluru. The company focuses on refining crude oil into petroleum products for domestic and international markets, positioning itself as a key player in India’s downstream oil and gas sector.
Average Trading Volume: 733,648
Technical Sentiment Signal: Buy
Current Market Cap: 344.1B INR
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