Two oil tankers carrying roughly 3 million barrels of West Asian oil have arrived in India after successfully transiting the Strait of Hormuz. This development raises hopes for increased energy supplies to the country, which relies heavily on imports for its energy needs.

One of the tankers, the Liberia-flagged Shenlong, is carrying around 1 million barrels of crude oil from Saudi Arabia. The other is an India-flagged Very Large Crude Carrier (VLCC) transporting approximately 2 million barrels of crude from Iraq.

India’s energy security is significantly tied to the stability of shipping routes in the Gulf, with around 60% of its liquefied petroleum gas (LPG) requirement met through imports, and 90% of these imports passing through the Strait of Hormuz.

In light of recent disruptions in LPG supply, which have affected sectors such as hospitality, India is actively negotiating with Iran for the safe passage of vessels headed to its shores. The External Affairs Minister of India, Randhir Jaiswal, noted that he and Iran’s Foreign Minister have engaged in three conversations in recent days regarding shipping safety and energy security.

“The objective of the diplomatic engagement was to keep the sea route open for Indian vessels so that shipments of crude oil and liquefied natural gas (LPG) continue without major disruption,” Jaiswal stated.

Disruptions linked to the ongoing conflict involving the US, Israel, and Iran, along with instability around the Strait of Hormuz, have triggered a shortage of commercial LPG in India. Prime Minister Modi has emphasized that these challenges are not unique to India, assuring that the government is prepared to handle any disruptions effectively.

On March 12, 2026, the Indian Oil Corporation (IOC) recorded a total traded volume of 56,34,938 shares, with its stock opening at ₹157.40, down 2.01% from the previous close of ₹160.63. The last traded price was ₹157.20, reflecting a day’s loss of 1.43%. IOC currently holds a market capitalization of ₹2,26,928 crores.

Details remain unconfirmed regarding the exact permission status from Iran for the two oil tankers to cross the Strait of Hormuz, and the long-term implications of the current disruptions in LPG supply remain uncertain.

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