Mangalore Refinery and Petrochemicals (MRPL) reported a gross refining margin of $9.22 per barrel for fiscal year 2026, driven by a strategy of sourcing from 273 distinct crude grades globally.
The refiner processed 16.77 million tonnes of crude during the period, achieving a refinery utilisation rate of 111.8%.
The expansion of the crude slate was designed to strengthen supply security and mitigate exposure to geopolitical disruptions.
By diversifying away from concentrated sources, MRPL aimed to improve operational resilience while navigating a market environment where shipping constraints and regional tensions have become primary drivers of price volatility.
This operational approach aligns with broader trends in the energy sector, where supply reliability has shifted from a strategic backdrop to a core market driver.
As oil prices advanced on renewed geopolitical risks in the Middle East, refiners with flexible sourcing capabilities were better positioned to maintain margins despite supply-side pressures.