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Indian oil refiners are hiring tankers to sail through the Strait of Hormuz to pick up crude from within the Persian Gulf, a change of tactics to help them cut costs and secure their supply chains.Processors have issued tenders and are negotiating with shipping lines, according to people familiar w…
Amid the ongoing US-Iran conflict, India’s oil refiners are changing tactics to procure crude from the Middle East through the Strait of Hormuz. This narrow channel of water has been effectively shut since the start of the war in March, with limited ships and tankers passing through.
Indian oil refiners are hiring tankers for Hormuz crude shipments, seeking lower costs as Iraqi discounts and improved flows reshape import logistics.