BusinessPhoto: Amar UjalaIndian Oil to Buy Ships for Crude Oil and LPG Amid West Asia Crisis
Amid rising tensions in West Asia and disruptions near the Hormuz Strait, Indian Oil Corporation (IOC) plans to buy its own ships for transporting crude oil and LPG. The company aims to strengthen control over its energy supply chain amid rising shipping costs. IOC's board has approved ship purchases, with tenders issued months ago. Finance Director Anuj Jain highlighted focus on shipping and 'Make in India' shipbuilding opportunities.
Amar Ujala·



