Company updateNDTV Profit
IOC to buy crude, LPG ships amid West Asia crisis
Positive+25 sources
GreyOak summary
Indian Oil Corp. plans to acquire dedicated crude and LPG vessels to mitigate shipping risks caused by West Asia instability. The company currently relies on time-chartered fleets, which cost significantly less than spot market rates. IOC increased spot crude imports to 87% in the first half of FY27, averaging USD 120 per barrel in October.
What it affects
- Indian Oil CorporationIOCPositive +2
IOC plans to buy crude and LPG ships.Rolling sentiment Positive +30
- GeopoliticsNegative -1
West Asia crisis exposes shipping risks.Rolling sentiment Negative -25
Source
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