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HomeMarket NewsStocks NewsMRPL says fuel operations uninterrupted, no force majeure declared amid Iran conflict
The clarification comes after CNBC-TV18 suggested that disruptions in crude flows in West Asia were affecting MRPL’s fuel exports. Shares of Mangalore Refinery and Petrochemicals Ltd ended at ₹196.35, up by ₹5.15, or 2.69%, on the BSE today, March 5.
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State-run Mangalore Refinery and Petrochemicals Ltd (MRPL) on Thursday, March 5, clarified that it has not declared force majeure and is unaware of reports claiming it has halted fuel exports due to the Iran conflict.
The clarification comes after CNBC-TV18 suggested that disruptions in crude flows in West Asia were affecting MRPL’s fuel exports. MRPL stated that the report is factually incorrect.
The company confirmed there is no undisclosed information that could explain any unusual movement in its stock trading. MRPL also noted that there are no regulatory or legal proceedings relevant to the matter.
Also Read: Qatar shuts LNG output; supplies to India hit, city gas sector flags crisis
Already, India’s largest liquefied natural gas importer, Petronet LNG Ltd, has issued force majeure notices for its LNG shipments following security risks in the Strait of Hormuz amid the ongoing Iran-Israel conflict.
The company said vessels are currently unable to safely transit through the strait to reach Ras Laffan, QatarEnergy’s LNG loading port. In response to the situation, Petronet LNG issued force majeure notices to QatarEnergy for its LNG tankers — Disha, Raahi, and Aseem. QatarEnergy, as the seller, has also indicated a potential force majeure due to hostilities in the region.
Following this, Petronet LNG issued corresponding force majeure notices to its off-takers — GAIL (India) Limited, Indian Oil Corporation Limited, and Bharat Petroleum Corporation Limited — under the relevant gas sale and purchase agreements on March 3, 2026. The company noted that acts of war are excluded under its business interruption insurance coverage.
Also Read: Gujarat Gas issues force majeure notices as Middle East war disrupts R-LNG supply
The state-owned refiner, which operates a 300,000-barrel-a-day plant in Karnataka, relies on imported crude to produce fuels for domestic and overseas markets. MRPL, which exports diesel, petrol and jet fuel, currently holds crude inventories sufficient for roughly two weeks of operations, the people said.
Shares of Mangalore Refinery and Petrochemicals Ltd ended at ₹196.35, up by ₹5.15, or 2.69%, on the BSE today, March 5.
(Edited by : Shoma Bhattacharjee)
First Published:
Mar 5, 2026 7:53 PM
IST
