India’s Mangalore Refinery and Petrochemicals Ltd plans to phase out fuel exports in the next two to three years as it expands its local retail network to diversify its sources of revenue, its managing director said.
MRPL, a subsidiary of state-controlled Oil and Natural Gas Corp, operates a 300,000 barrel-per-day coastal refinery in southern Karnataka state, mostly supplying the state refiners that own about 90% of India’s retail fuel stations and exporting the remainder.
