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Indian Refiner MRPL To Phase Out Exports

OIL

Indian refiner MRPL to phase out exports in the next 2-3 years as it expands its local retail network, according to Reuters.

  • MRPL operates a 300 kb/d refinery in the southern Karnataka state, exporting around 2-3 cargoes of jet fuel and diesel each month.
  • The refinery currently supplies the state refiners in India that own around 90% of India’s retail fuel stations. It wants to also expand its retail outlets to 1800 in India by 2027, up from 71 currently.
  • "Our plan is to go for zero exports as we would like to push volumes through our retail outlets," Sanjay Varma, MRPL’s Managing Director said.
  • In the current financial year to March 31, MRPL want to operate the refinery at around 107-108% of capacity, down from 115% the previous year.
  • Maintenance is scheduled for 35-40 days in late August, which will take around 60 kb/d offline.
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