Escalation of hostilities in the Middle East has disrupted crude shipments to
India, forcing at least two refiners to source more expensive substitute cargoes
after original deliveries failed to arrive on time. State-run Bharat Petroleum
(BPCL) had four Persian Gulf cargoes due in August that were not delivered as
scheduled, and Indian Oil reported adjustments to some deliveries. Sources said
the sudden supply interruption prompted a surge in procurement tenders and cargo
enquiries. Indian Oil’s four delayed shipments include two from the UAE, one
from Saudi Arabia and one from Kuwait.
