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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
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Sign InMangalore Refinery and Petrochemicals Limited (MRPL) has officially declared force majeure on its planned gasoline export cargoes for March and April. The state-run Indian refiner cited the ongoing conflict in the Middle East as the primary cause, which has significantly disrupted crude oil supplies from the Gulf region. This disruption has forced the refinery to suspend its export commitments as it faces a critical shortage of feedstock. The MRPL facility, which boasts a capacity of 500,000 barrels per day, typically exports approximately 40% of its total fuel production. Market analysts expect this reduction in supply to tighten the regional gasoline market, potentially driving up prices and refining margins. The move highlights the growing impact of geopolitical tensions on global energy supply chains and refining operations.