Houthi attacks on Russian oil tankers add to Indian refiners' woes
Business Standard|February 19, 2024
Coincide with escalating actions by the US
SDINAKAR Amritsar
Houthi attacks on Russian oil tankers add to Indian refiners' woes

The unexpected missile attack on a second India-bound ship carrying Russian crude, just three weeks after the first, has complicated matters for domestic refiners. India now counts the Vladimir Putin-led nation as its biggest oil supplier, according to Paris-based market intelligence agency Kpler, and these attacks come on top of US sanctions since December, where vessels that bring crude to India are facing heightened scrutiny.

Panama-registered Pollux, which loaded crude at the Sheshkaris oil terminal in the Russian port of Novorossiyskon January 24, was scheduled to deliver the medium, sour Urals grade to Paradip port on February 28. According to United Kingdom Maritime Trade Operations and the US State Department data, the tanker was struck northwest of Yemen's Mokha port in the Red Sea.

The rebels had targeted the long-range 2 (LR2)-type tanker carrying around 628,000 barrels of Urals, with at least three missiles, and one had struck the vessel on the port side, according to a post by US Central Command (Centcom) on X (formerly Twitter). Officials then said there were no casualties, and the vessel had continued its trip to India's east coast. On Sunday, a Kpler official said the vessel had not transmitted a signal over the past day, likely due to being hit by a missile.

State-owned refiner Indian Oil has a 300,000-barrels-per-day refinery at Paradip, with Russian state-owned Rosneft being the oil supplier, showed Kpler data.

This story is from the February 19, 2024 edition of Business Standard.

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This story is from the February 19, 2024 edition of Business Standard.

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