Reuters: India resumes importing Iraqi oil

Indian state-owned oil refineries have resumed purchasing Iraqi crude oil that would have passed through the Strait of Hormuz, in an indication that the world’s third-largest crude oil importer is seeking to bring in supplies from the Middle East after the strait was temporarily reopened.

A Reuters report, translated by Al-Maalomah News Agency, stated that Mangalore Oil Refinery and Petrochemicals Limited (MRPL), a state-owned company that operates a 300,000-barrel-per-day refinery in southern India, has chartered an oil tanker to load crude oil from Iraq. This marks the first time an Indian state-owned refiner has chartered a vessel to transport Iraqi crude since tankers began entering the Strait of Hormuz several weeks ago.

The report added that, according to sources, MRPL has booked an Aframax tanker to load crude oil from the Basra oil terminal in the Gulf on July 19th and 20th. India has been attempting to charter vessels for weeks, facing difficulties amidst rising shipping costs and unclear terms and requirements governing passage through the Strait of Hormuz.
The report explained that since the temporary reopening of the strait, shipping traffic has picked up, particularly for departing tankers that had been stranded in the Gulf for months. However, many ship owners and operators remain extremely cautious about sending tankers through the strait to load cargoes.

The report also noted that Total… Energies is offering millions of barrels of Iraqi Basra Medium and Heavy crude for immediate delivery to Asia this month and next. Total Energies, one of the largest commodity traders among major oil companies, has offered buyers in China, South Korea, and Taiwan unspecified volumes of Iraqi crude that the giant will load from Basra and deliver via the Strait of Hormuz in the coming weeks. Arabs& Middle Easterners

Almaalomah.me