MRPL cuts processing rate at one CDU after fire damages refinery unit: Report; stock extends decline

Mangalore Refinery and Petrochemicals Ltd (MRPL) has lowered the processing rate at a 60,000 barrels-a-day crude distillation unit (CDU) after a fire damaged the plant's coker hydrotreater unit, Bloomberg reported, citing people familiar with the matter.

According to the report, technical consultants are assessing the extent of the damage.

MRPL is expected to decide on the final crude processing rates after the assessment is completed.

The report also said that MRPL has halted fuel exports in the meantime to prioritise domestic supplies.

The fire broke out at the MRPL facility at around 12:20 pm on Wednesday.

The company informed stock exchanges that the incident was brought under control and completely extinguished by 2:47 pm.

"During the subsequent combing and inspection operations following the firefighting activity, the body of one deceased person was found at the affected site. One person who sustained burn injuries is undergoing treatment at the hospital and is being provided necessary medical care," MRPL said in its exchange filing.

"Further verified information will be shared as and when available," the company added.

Meanwhile, MRPL shares extended their decline in Thursday's trade, falling 2.51 per cent to Rs 165 at last check.