IOC to buy crude, LPG ships as West Asia crisis exposes shipping risks
The Hindu ·
IOC to acquire crude and LPG carriers amid Hormuz disruption, boosting shipping resilience and domestic shipbuilding under Make in India.
IOC to buy crude, LPG ships as West Asia crisis exposes shipping risks
IOC to acquire crude and LPG carriers amid Hormuz disruption, boosting shipping resilience and domestic shipbuilding under Make in India.
3 sources · 3 articles · updated 2026-11-08 06:15 UTC · energy
Coverage
IOC to buy crude, LPG ships as West Asia crisis exposes shipping risks
Business Standard ·
State-owned Indian Oil Corporation plans to acquire crude oil and liquefied petroleum gas carriers of its own as disruptions to shipping around the Strait of Hormuz and soaring freight costs prompt India's largest oil refiner to strengthen control over its energy supply chain.
IOC to buy crude, LPG ships as West Asia crisis exposes shipping risks
The Economic Times ·
Indian Oil Corporation aims to enhance control over its energy supply chain by acquiring crude oil carriers and LPG vessels. The company is also exploring domestic shipbuilding initiatives under the Make in India program. Amid increasing freight rates and tensions in West Asia, IOC has adjusted its shipping strategy significantly. It has diversified crude procurement, sourcing significant amounts from various countries, including Russia and Venezuela.