Mangalore Refinery and Petrochemicals Ltd (MRPL) becomes the first refiner importing crude oil amid the shipping recommenced via the Strait of Hormuz, reports Reuters.
The vessel named Aframax tanker Jasmin Joy has been hired by the company to load crude oil from Iraq's Basrah oil terminal on July 19-20.
The global supply chain was disrupted for a long period amid the West Asia crisis leading to major difficulties to refiners all over the world, including India, which imports more than 85 percent of its crude oil requirements, with a significant share sourced from the region. The resumption of shipments through the Strait of Hormuz is expected to support supply stability for Indian refiners.
