Mangalore Refinery and Petrochemicals Limited & Nayara Energy

Mangalore Refinery and Petrochemicals Limited: Mangalore Refinery and Petrochemicals Limited Ltd has halted imports of Russian oil due to new US sanctions.

Nayara Energy: Nayara Energy, backed by Rosneft and already sanctioned by the EU, continues to purchase oil from Rosneft and other Russian sellers.

Mangalore Refinery and Petrochemicals Limited: Mangalore Refinery and Petrochemicals Limited is one of the Indian state refiners that has stopped buying Russian oil due to narrowing discounts and US threats.

Nayara Energy: Nayara Energy, majority-owned by Russian entities including Rosneft, was recently sanctioned by the EU, affecting its oil product shipments.

Mangalore Refinery and Petrochemicals Limited: Mangalore Refinery and Petrochemicals Limited is a major Indian refiner that has the complexity needed to efficiently run Venezuelan crude grades.

Nayara Energy: Nayara Energy, a Rosneft-based Indian refiner, has the complexity needed to efficiently run Venezuelan crude grades.

Mangalore Refinery and Petrochemicals Limited: Mangalore Refinery and Petrochemicals Limited, a standalone refiner, is expected to be significantly hit by the discounted refinery transfer prices, leading to a sharper margin squeeze due to its limited retail presence.