Indian Oil One: Two Oil Tankers Arrive in India After Transiting the Strait of Hormuz
Indian Oil One: Energy Supply Update
Two oil tankers carrying roughly 3 million barrels of West Asian oil have arrived in India after transiting the Strait of Hormuz. This delivery includes a Liberia-flagged tanker, the Shenlong, which is carrying around 1 million barrels of Saudi Arabian crude oil, and an India-flagged VLCC that holds approximately 2 million barrels of crude from Iraq.
The arrival of these tankers has raised hopes for increased energy supplies to India, which relies on imports for around 60% of its LPG requirement, with 90% of these imports passing through the Strait of Hormuz.
In light of recent disruptions in LPG supply affecting the hospitality sector, India is actively negotiating with Iran for the safe passage of vessels headed to its shores. The External Affairs Minister of India, Randhir Jaiswal, noted, “The External Affairs Minister and the Foreign Minister of Iran have had three conversations in recent days.”
Jaiswal emphasized that the objective of these diplomatic engagements is to keep the sea route open for Indian vessels, ensuring that shipments of crude oil and liquefied natural gas (LPG) continue without major disruption.
On March 12, 2026, the Indian Oil Corporation (IOC) recorded a total traded volume of 56,34,938 shares, with its stock opening at ₹157.40, down 2.01% from the previous close of ₹160.63. The last traded price was ₹157.20, reflecting a day’s loss of 1.43%. IOC currently has a market capitalization of ₹2,26,928 crores.
Disruptions linked to the ongoing conflict involving the US, Israel, and Iran, along with instability around the Strait of Hormuz, have triggered a shortage of commercial LPG in India. PM Modi reportedly stressed that the challenges stem from global developments and are not unique to India, assuring that the government is prepared to handle any disruptions effectively.
Details remain unconfirmed regarding the exact permission status from Iran for the two oil tankers to cross the Strait of Hormuz. Additionally, the long-term implications of the current disruptions in LPG supply remain uncertain.
