Sanctions on Iran ‘impose supply and price risk on MRPL’
Mangalore Refinery and Petrochemicals Ltd (MRPL) has said that the sanction on Iran (a major crude supplier) is an immediate threat to profitability.
MRPL annual report for 2018-19 said that the company is reliant on imports to meet a major portion of its crude oil requirement. West Asia is the principal source of crude to MRPL with more than 65 per cent of the requirement being sourced through term contracts.
“The recent sanctions on Iran and the expiry of sanctions-waiver available to India imposes both a supply and price risk on your company,” it said.
