Mangalore Refinery & Petrochem scouts for Venezuelan oil as it halts Russian imports

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India's Mangalore Refinery and Petrochemicals Ltd (MRPL) is exploring Venezuelan oil purchases as it halts Russian crude imports to comply with Western sanctions. The state-run refiner is also focusing on direct retail sales to boost profits, planning to significantly expand its fuel station network. Higher margins on refined fuel exports are currently offsetting the loss of Russian oil.