Topic
indian-oil
Logistics Indian Oil to Acquire 50% Stake in VLGCs as US LPG Imports Surge
Indian Oil Corporation plans to acquire a 50% stake in very large gas carriers (VLGCs) as it prepares to increase LPG imports from the United States. The move responds to a sharp rise in US LPG purchases—volumes in June were 145% higher than February—while Middle Eastern supplies decline. The tender targets vessels of 80,000-93,500 cubic metres, with bids due September 7.
Commodities Crude comeback: IOCL, HPCL buy 7 million barrels of energy supplies as India rebuilds stocks
Indian state-owned refiners IOCL and HPCL bought approximately 7 million barrels of crude through tenders last week, with deliveries scheduled from late August through September, according to Reuters. The purchases come as India's crude inventories rebounded to near one-year highs, while global oil prices fell over 1% on Monday after OPEC+ agreed to further increase output targets.
Logistics PetroChina, Indian Oil Fail to Secure Tankers to Load Iraqi Crude Amid Soaring Rates
PetroChina and Indian Oil failed to secure very large crude carriers to load Iraqi Basrah crude in late June, as freight rates nearly triple pre-war levels and transit through the Strait of Hormuz remains uncertain. A PetroChina official cited high costs and lack of guarantee to exit the strait, while IOC issued force majeure on its cargo.
Commodities Indian Oil Hikes Commercial LPG Prices Amid Market Shifts
Indian Oil Corporation has increased the price of a 19 kg commercial LPG cylinder by ₹42 to ₹3,113.50. This adjustment reflects broader market dynamics and supply chain considerations.