India's MRPL scouts for Venezuelan oil as it halts Russian imports

Core Viewpoint - Mangalore Refinery and Petrochemicals Ltd is shifting its oil sourcing strategy by exploring purchases of Venezuelan oil due to the cessation of Russian oil imports in compliance with Western sanctions [1] Group 1: Company Actions - The company is halting imports of Russian oil as a direct response to Western sanctions [1] - Mangalore Refinery and Petrochemicals Ltd is actively seeking to purchase Venezuelan oil to replace the halted Russian oil imports [1] Group 2: Industry Context - The decision reflects a broader trend in the oil industry where companies are adjusting their supply chains in response to geopolitical pressures and sanctions [1]