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via thehindubusinessline.comBusiness & Companies

IOC to buy crude and LPG ships as West Asia crisis exposes shipping risks

FROM THE WIRE · THEHINDUBUSINESSLINE.COM

State-owned Indian Oil Corporation plans to acquire crude oil and liquefied petroleum gas carriers of its own as disruptions to shipping around the Strait of Hormuz and soaring freight costs prompt India's largest oil refiner to strengthen control over its energy supply chain.

Read at the source ↗
MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: neutralControl of energy logistics by a major Indian refiner is relevant for the oil sector.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01State-owned Indian Oil Corporation plans to acquire its own crude and LPG carriers.
  2. 02Disruptions around the Strait of Hormuz and soaring freight costs are prompting the move.
  3. 03The aim is to strengthen control over the energy supply chain.

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