How have Indian refiners ensured continued crude and LPG supply amid disruptions from the Iran conflict?

Indian refiners have secured sufficient crude to meet needs through at least August and LPG supplies until mid-July by increasing purchases from Abu Dhabi National Oil Co (ADNOC) and other sellers, including spot tenders from Latin America, Africa, Saudi Arabia, and the UAE; they are lifting ADNOC crude and LPG via ship-to-ship transfers in Fujairah–Sohar and Malaysia, with ADNOC offering cargoes from Fujairah storage, Zirku or Das Island, and LPG mostly from Sohar.

What specific recent crude purchases have been made by Indian state-run refiners like HPCL?

Hindustan Petroleum Corp (HPCL) purchased 4 million barrels of Murban crude from the UAE for August delivery via TotalEnergies’ trading arm Totsa and Mercuria, priced at a 40-cent-per-barrel premium to July Dated Brent; last week, HPCL also bought 2 million barrels of crude from Brazil and West Africa for its Rajasthan refinery.

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