Mangalore Refinery and Petrochemicals Limited has informed the Exchange about Rumour Verification/ denial of article posted on twitter - Regulation 30(11).
MRPL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
MRPL has officially denied a rumour circulated on Twitter/X by OilPrice.com claiming the company was shutting down parts of its 300,000 barrels per day Mangalore refinery due to feedstock shortages linked to Middle Eastern oil being stuck in the Gulf. The company clarified that the tweet is factually incorrect and confirmed that refinery operations are normal and it has lined up adequate crude oil quantities to sustain operations. The clarification was filed with the stock exchanges under Regulation 30(11) to formally address the market rumour. MRPL is a subsidiary of ONGC and operates a major refinery on India's southwest coast.
The denial should help calm any investor concerns triggered by the social media post and reassure the market that there is no operational disruption or crude supply crisis. The stock may see a positive reaction if it had been pressured by the rumour, but the long-term impact depends on actual crude availability from Middle Eastern suppliers going forward.