Indian refiners halt Iraqi oil shipments as Hormuz risks rise
Two Indian state-owned refiners have suspended Iraqi oil loadings amid heightened security risks in the Strait of Hormuz, Bloomberg reports.
Key Takeaways
AIBloomberg has reported that two Indian state-owned refining companies have suspended oil loadings from Iraq as security risks increase in the Strait of Hormuz.
Indian Oil Corporation canceled oil loading operations at Iraq’s Basra terminal due to rising threats and recent attacks on vessels transiting the Strait of Hormuz, according to Al Arabiya.
The move followed preparations by the company to load two million barrels of Iraqi crude onto the very large crude carrier (VLCC) Lila Jamnagar on the 23rd of this month.