{"id":110919,"date":"2026-03-04T06:03:24","date_gmt":"2026-03-04T09:03:24","guid":{"rendered":"https:\/\/shipping.einnews.com\/article\/897485572"},"modified":"2026-03-04T06:03:24","modified_gmt":"2026-03-04T09:03:24","slug":"mrpl-declares-force-majeure-on-gasoline-export-cargoes-for-march-april-traders-say","status":"publish","type":"post","link":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/2026\/03\/04\/mrpl-declares-force-majeure-on-gasoline-export-cargoes-for-march-april-traders-say\/","title":{"rendered":"MRPL declares force majeure on gasoline export cargoes for March, April, traders say"},"content":{"rendered":"
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Mangalore Refinery and Petrochemicals declared \u200cforce majeure on all \u200cgasoline export \u200ccargoes \u2060for \u2060March and April amid conflict between \u200bU.S. \u200cand Iran<\/a> that has upended crude oil \u200cflows from \u200bthe Gulf, traders said \u2060on Wednesday (March 4, 2026).<\/p>\n

The two traders, who deal with the company and said they received a notice from them, said \u200cMRPL invoked force majeure, a legal term which allows a company to invoke circumstances outside \u200cof their control to not fulfil \u200ca \u2060contract, for its gasoline exports for March and \u2060April.<\/p>\n

The state-run refiner, which operates a 500,000-barrel-per-day refinery in the southern state of Karnataka, exports about 40% of its refined fuel \u200boutput.<\/p>\n

Shipping through the \u200cStrait of Hormuz between Iran and Oman, which carries around a fifth of oil consumed globally, has virtually stopped after vessels in the area \u200cwere hit in Iranian attacks after U.S. and \u200bIsraeli strikes struck the country, leaving energy trade flows in disarray.<\/p>\n

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Why the closure of Strait of Hormuz is causing fears about elevating crude oil prices<\/a><\/div>\n
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MRPL did not \u2060immediately respond to Reuters\u2019 email request for a comment. A source with the company, who asked to \u200cremain unidentified, confirmed the force majeure.<\/p>\n

Indian refiners meet about 40% of their crude needs through purchases from West Asia, in addition to sourcing from spot markets and processing domestic oil.<\/p>\n

India is scouting for alternative sources for importing crude oil, liquefied \u200cpetroleum gas and liquefied natural gas, a government source said \u200bon Tuesday (March 3, 2026).<\/p>\n

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\u2018India has 25 days of crude oil in reserve and 25 days of petrol, diesel stock\u2019<\/a><\/div>\n
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MRPL said in January that it was exploring purchases of Venezuelan oil after \u2060the refiner halted imports of Russian oil to comply with \u2060Western sanctions.<\/p>\n

India holds sufficient crude inventories to meet demand for about 25 days. Also, \u200crefiners hold a 25-day inventory of gasoil, gasoline and liquefied petroleum gas, the government source added.<\/p>\n<\/div>\n

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Published – March 04, 2026 01:40 pm IST<\/span><\/p>\n<\/div>\n