MRPL 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.