Indian Oil Corporation cancels Iraq oil lifting amid attacks, sources say
Indian Oil Corporation and Mangalore Refinery have cancelled plans to lift Iraqi oil from the Basrah terminal due to security risks in the Strait of Hormuz. The decision follows renewed conflict and attacks on vessels in the region.
Why it matters
Disruptions in the Strait of Hormuz threaten global energy supply chains and increase operational costs for major importers like India.
Indian Oil Corporation has cancelled the lifting of Iraqi oil from Basrah Oil Terminal due to increased risk and attacks on some vessels transiting through the Strait of Hormuz , three sources familiar with the matter said.
State-run IOC was preparing to lift 2 million barrels of Iraqi oil in the very large crude carrier Lila Jamnagar around July 23, 2026.
Another state refiner, Mangalore Refinery and Petrochemicals Ltd., also cancelled plans to lift oil from Iraq in the Indian-flagged Aframax tanker Desh Gaurav, they said.
The two Indian refiners did not immediately respond to a Reuters request for comment.
India has advised shipowners, ship managers and recruitment companies not to deploy the country’s seafarers on vessels undertaking trips through the Strait of Hormuz following the resumption of fighting in the region.
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