India’s state-owned MRPL charters a tanker to import Iraqi oil, signaling renewed Middle East supply reliance despite shipping risks.
India’s state refiners have resumed purchases of Iraqi crude, marking the first such move since shipping risks in the Strait of Hormuz eased. Mangalore Refinery and Petrochemicals Limited (MRPL), which operates a 300,000-barrel-per-day refinery, has chartered a tanker to load Iraqi oil, according to shipping industry sources.
The decision follows a tentative reopening of the Hormuz chokepoint, a critical route for Middle East oil exports. India, the world’s third-largest crude importer, had previously reduced reliance on Iraqi supplies due to heightened geopolitical tensions in the region.
No immediate market reaction was reported, but the move underscores India’s efforts to secure stable oil supplies amid global price volatility.