Indian Oil One: Two Tankers Deliver 3 Million Barrels of Oil to India
Indian Oil Corporation Receives Crucial Oil Deliveries
On March 12, 2026, two oil tankers carrying roughly 3 million barrels of West Asian oil arrived in India, marking a significant boost for the country’s energy supplies. This delivery comes at a time when India is heavily reliant on imports to meet its energy needs, particularly for liquefied petroleum gas (LPG).
One of the tankers, the Liberia-flagged Shenlong, is transporting around 1 million barrels of Saudi Arabian crude oil. The second vessel, an India-flagged Very Large Crude Carrier (VLCC), is carrying approximately 2 million barrels of crude from Iraq.
The arrival of these tankers has raised hopes for more stable energy supplies to India, which imports around 60% of its LPG requirements, with 90% of these imports passing through the strategic Strait of Hormuz.
In light of recent disruptions in LPG supply, which have notably impacted the hospitality sector in India, the Indian government is actively negotiating with Iran to ensure the safe passage of vessels headed to India. The External Affairs Minister of India, Randhir Jaiswal, noted that he has had multiple discussions with Iran’s Foreign Minister regarding shipping safety and energy security.
“The External Affairs Minister and the Foreign Minister of Iran have had three conversations in recent days,” Jaiswal stated, emphasizing the importance of maintaining open sea routes for Indian vessels.
Despite these diplomatic efforts, 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. Observers note that the objective of these engagements is to keep the sea route open for shipments of crude oil and LPG without major disruption.
On the stock market, Indian Oil Corporation (IOC) recorded a total traded volume of 56,34,938 shares on the same day, with the 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.
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, as India continues to navigate the complexities of its energy security amidst regional tensions.
