MRPL.NSE

Mangalore Refinery & Petrochemicals Ltd.

Indias state-run refiner Mangalore Refinery and Petrochemicals Ltd (MRPL) has no immediate plans to purchase Russian oil, citing risks arising from the latest U.S. sanctions on Moscows leading oil producer, a company executive told reporters on Wednesday.

WTI Hovers Near 5 Month Lows After India Confusion, Record US Production Oil prices are flat this morning (holding near five-month low) amid mixed signals on President Trump’s push to stop India’s purchases of Russian crude , his lengthy ongoing talks with President Putin, and a surprisingly large crude inventory build reported by API last night. India’s oil refiners said they expect to reduce - not stop - the purchase of Russian crude , a move that could squeeze global supply, following remarks by Trump that the South Asian nation would halt all buying. Bloomberg reports that Mangalore Refinery and Petrochemicals Ltd Managing Director Mundkur Shyamprasad Kamath told an analyst conference call Thursday that he was “confident” his company would continue buying Russian oil. “We are not trying to slow down or anything,” he said when asked how he sees US push to stop Russian oil buying. “For us it is business as usual, with respect to sourcing. We are sourcing those Russian barrels that is available today.” India has flip-flopped between defying the US and crimping Russian imports in response to pressure from Washington to cut back.

Raichur (Karnataka), Oct 16 : Finance Minister Nirmala Sitharaman on Thursday assured farmers of full support to boost agricultural income, as she inaugurated the Farmers Training and Common Facility Centre and a new agro-processing unit here. Addressing the gathering, she highlighted initiatives like soil health cards, fertilisers, financial assistance, and the increased MSP for foodgrains and pulses. The Farmers' Training and Common Facility Centre in Raichur will greatly benefit our farmers. It will help farmers get more price for agricultural products, tie producers to markets, empower women, improve quality and shelf-life of farm produce and training and capacity building of farmers. Raichur district is one of the major pulse production regions of Karnataka and approximately 80,000 metric tonnes of tur and 34,000 metric tonnes of chickpeas are cultivated annually. This vast production base will contribute to strengthening the pulse value chain. The new processing unit established under this scheme has the capacity to process 133 metric tonnes of tur, 100 metric tonnes of chickpeas, and 76 metric tonnes of mixed pulses per year.

Analysts pegged Nifty support at 25,180 and resistance at 25,450.

Mangalore Refinery and Petrochemicals Ltd plans to sell jet fuel cargoes. The sale is for delivery in the fourth quarter. One cargo of 40,000-60,000 metric tons per month of aviation fuel is for sale. Loading will occur between October and December. Prices will link to Dubai crude quotes. Bids must be submitted by September 22.