Hindustan Petroleum Corporation Ltd Chairman Vikas Kaushal said the refiner continues to face challenges booking tankers willing to transit the Strait of Hormuz to lift crude, even as Middle Eastern supply has recovered to near pre-war levels. Kaushal cited vessel availability and shipowners withdrawing at the last minute as the main obstacles. HPCL's Middle East crude purchases averaged 256,000 barrels per day in October, up from 57,000 bpd in April, but the shipping bottleneck means the refiner cannot always collect the cargoes it has bought.
HPCL Says Tanker Availability, Last-Minute Withdrawals Still Constrain Hormuz Crude Lifting Despite Supply Recovery
Hindustan Petroleum Corporation Ltd Chairman Vikas Kaushal said the refiner continues to face challenges booking tankers willing to transit the Strait of Hormuz to lift crude, even as Middle Eastern supply has recovered to near pre-war levels. Kaushal cited vessel availability and shipowners withdrawing at the last minute as the main obstacles. HPCL's Middle East crude purchases averaged 256,000 barrels per day in October, up from 57,000 bpd in April, but the shipping bottleneck means the refiner cannot always collect the cargoes it has bought.
