{
  "id": 13931544,
  "title": "Iraq crude shipments to India rebound as Russian crude shipments decline",
  "url": "https://urgent.news/2026/10/12/iraq-crude-shipments-to-india-rebound-as-russian-crude-shipments",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-12T09:59:17.000Z",
  "source": {
    "name": "Hindu BusinessLine",
    "slug": "hindu-businessline",
    "url": "https://www.thehindubusinessline.com/economy/iraq-crude-shipments-to-india-rebound-as-russian-crude-shipments-decline/article71573674.ece"
  },
  "original_language": "en",
  "account": "Iraqi crude oil shipments to India surged by 106.3 per cent in September, reaching 4.41 million tonnes, according to data from Greece-based shipping analytics firm Signal Ocean. This marked a 13.7 per cent increase compared to the same month last year, as Indian refiners boosted purchases from Iraqi suppliers amid elevated shipping risks and rising freight rates. In contrast, Russian crude shipments to India dropped 32.3 per cent from August to 5.48 million tonnes in September, down from a range of 7.1 million to 9.9 million tonnes from March to August.\n\nThe rebound in Iraqi shipments occurred as they nearly stagnated between March and July. However, shipments resumed in August and peaked in September, with about 21 voyages from Basrah to Indian terminals during the month, up from nine in August. This resurgence supports tanker demand despite ongoing uncertainty in shipping conditions. The September shipments were slightly above the January–February average of 4.38 million tonnes, underscoring the recovery in Iraqi exports.\n\nIndian refiners such as Indian Oil Corporation, Reliance Industries, Bharat Petroleum Corporation, and HPCL-Mittal Energy were among those purchasing Iraqi crude on a free-on-board (FOB) basis, directly arranging vessels and transportation. This shift in procurement strategy was influenced by security concerns affecting shipping and insurance costs. The September shipments from Basrah's offshore oil terminals, which traveled through the Arabian Gulf, Strait of Hormuz, the Gulf of Oman, and the Arabian Sea, arrived at terminals in the Gulf of Kutch, supporting Sikka and Vadinar in Gujarat. Sikka accounted for about 75 per cent of the discharge destinations, while Vadinar made up 26 per cent.",
  "summary": "The rebound comes at a time when Russian crude shipments to India declined 32.3% from August to 5.48 million tonne",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}