Indian Oil Corporation (IOC) cancelled a planned Iraqi crude oil lifting from Basrah Oil Terminal after attacks on some vessels transiting through the Strait of Hormuz raised shipping-risk concerns. The Strait of Hormuz is one of the world’s most important energy chokepoints and disruptions there can quickly affect import security for India.
A second Indian refiner, Mangalore Refinery and Petrochemicals Ltd., also cancelled a planned Iraqi oil lifting. Neither refinery immediately responded to requests for comment.
What happened
IOC had been preparing to lift 2 million barrels of Iraqi oil on the very large crude carrier Lila Jamnagar around July 23. Mangalore Refinery and Petrochemicals Ltd. had planned to use the Indian-flagged Aframax tanker Desh Gurav.
Background and earlier position
India relies heavily on imported crude oil, so any disruption in West Asian shipping routes has immediate implications for refinery planning, freight costs, and fuel security. The Strait of Hormuz remains a critical maritime corridor for global energy transport, and Indian refiners routinely track security conditions in the Persian Gulf while scheduling cargo liftings.
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