Indian refiners halt Iraq oil loadings
Analysis based on 6 articles · First reported Jul 21, 2026 · Last updated Jul 22, 2026
The suspension of Iraqi crude loadings by Indian refiners tightens global oil supply and increases shipping costs due to heightened geopolitical risk in the Strait of Hormuz. Oil prices are likely to rise as market participants price in potential disruptions to a key chokepoint for global oil shipments.
Two Indian state-run refiners, Indian Oil Corporation and Mangalore Refinery & Petrochemicals (a subsidiary of Oil and Natural Gas Corporation), have suspended crude oil loadings from Iraq due to escalating security risks in the Strait of Hormuz. The decision follows recent attacks on commercial vessels by Iran, which has targeted multiple oil tankers in an attempt to assert control over the waterway. Indian Oil abandoned plans to load the supertanker India — Jamnagar (2 million barrels capacity), deeming a Hormuz crossing too risky. Mangalore Refinery also suspended liftings. Iraq's Oil Ministry acknowledged canceled loading operations, citing increased transit risks and insurance costs. India's Shipping Ministry has banned deployment of Indian seafarers on vessels transiting Hormuz until further notice. The suspensions highlight a sharp pullback in shipping traffic through the strait, raising concerns about global oil supply and shipping costs.
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