The vessels, BW Tyr and BW Elm, are expected to arrive in Mumbai on March 31 and New Mangalore on April 1, respectively, according to a statement from the petroleum ministry.The transit comes as shipping through the strategic chokepoint has been severely curtailed by the conflict, with Iran allowing passage only to what it has described as “non-hostile vessels” that coordinate with its authorities.

The two tankers are among a small number of Indian-flagged vessels to successfully navigate the strait in recent days. Four LPG carriers have already completed the crossing, while three more remain in the western section of the waterway, according to ship tracking data.

A total of 18 Indian-flagged vessels with 485 Indian seafarers are still in the western Gulf region, the government said, underscoring continued exposure to maritime risks in the area.Energy dependence in focusIndia, the world’s second-largest importer of LPG, consumed 33.15 million tons of the fuel last year, with imports meeting roughly 60% of demand.

About 90% of these imports originate from the Middle East, making the Strait of Hormuz a critical artery for the country’s energy security.

Despite disruptions in maritime traffic, port operations across India remain normal with no congestion reported, the government added.

Indian Oil Corporation posts a remarkable profit surge as stronger refining margins and lower crude costs fuel growth, reflecting India’s rising energy resilience and refining strength.

Indian Oil Corporation, the country’s largest refiner and fuel retailer, has reported a sharp rise in quarterly profit, driven by improved refining margins and reduced crude oil costs.

The company’s standalone net profit for the quarter ended September 30 soared to 76.10 billion rupees, a massive leap from 1.80 billion rupees during the same period last year.

The performance highlights the strength of India’s energy sector as it continues to adapt to global market fluctuations while maintaining domestic supply stability.

Revenue from operations grew 4% year-on-year to 2.03 trillion rupees, signaling strong performance across refining and marketing segments.

Meanwhile, total expenses declined by 1.5% to 1.94 trillion rupees, aided by a 7.5% drop in input costs. The improvement in profitability was mainly due to a stronger gross refining margin, which reflects the profit from processing crude oil into refined products.

For the April-September period, Indian Oil’s average gross refining margin rose to $6.32 per barrel from $4.08 per barrel a year ago.

During the September quarter, this margin climbed even higher to $10.6 per barrel, demonstrating the company’s efficiency and ability to capitalize on favorable crude dynamics.

Indian Oil, along with its subsidiary Chennai Petroleum Corporation, together manage around one-third of India’s total refining capacity of five million barrels per day.

This significant refining footprint makes Indian Oil a key player in ensuring the nation’s fuel security while also supporting export growth.

The company’s strategy to optimize operations and expand its refining network has allowed it to benefit from both domestic demand recovery and opportunities in global markets.

During the quarter, India’s overall fuel demand witnessed fluctuations, with a brief dip in July followed by a strong rebound in August and September.

The decline in global crude oil prices provided relief to refiners, improving profitability and margins. Indian refiners, including Indian Oil, have also stepped up gasoline and diesel exports, reaching their highest levels in several years.

This increase was driven by expanded crude processing capacity and enhanced ethanol blending programs, which reduced domestic consumption of traditional fuels and freed up volumes for overseas sales.

The positive performance also reflects the success of Indian Oil’s long-term strategy to balance domestic and international operations.

The company has been investing in upgrading refineries, adopting cleaner technologies, and expanding petrochemical integration to strengthen its margins.

These efforts align with India’s broader goal of achieving energy self-reliance while promoting environmentally responsible refining practices.

Peer comparisons show that Indian Oil remains competitively positioned within the sector. Analysts have maintained a “Buy” rating on the company’s stock, citing strong fundamentals and steady earnings growth.

In valuation terms, Indian Oil’s forward price-to-earnings ratio stands at 9, with an EV/EBITDA of 6.78, reflecting investor confidence.

The company’s revenue is projected to grow by 1%, while profit growth estimates stand at a robust 25.7% over the next 12 months.

Other major refiners such as Bharat Petroleum and Hindustan Petroleum also posted strong numbers, benefiting from similar market trends.

However, Indian Oil’s extensive refining base and diversified product mix have given it a strategic edge. Compared with private players like Reliance Industries, Indian Oil continues to maintain a strong presence in the public sector, serving both industrial clients and retail consumers across India’s vast geography.

The company’s steady dividend yield and strong balance sheet further reinforce its appeal to investors. Despite global uncertainties, Indian Oil’s prudent financial management, coupled with consistent operational improvements, ensures resilience against external shocks.

The stock has shown stable performance through July to September, mirroring confidence in the company’s growth trajectory.

Indian Oil plans to continue investing in refinery modernization and expanding its green energy initiatives, including biofuels, hydrogen, and electric mobility solutions. These steps aim to future-proof the business and align it with India’s long-term sustainability goals.

The company’s leadership emphasized that the strong quarterly results underscore the effectiveness of its strategic initiatives and operational discipline.

As global crude markets remain volatile, Indian Oil’s ability to maintain profitability while supporting the nation’s energy demand showcases its importance to India’s industrial and economic stability.

Indian Oil’s remarkable turnaround this quarter stands as a testament to the strength of India’s refining sector. With efficient operations, prudent cost management, and growing export capabilities, the company has positioned itself as a key driver of India’s energy transition and economic growth.

As refining margins remain favorable and domestic fuel consumption continues to recover, Indian Oil is set to play a pivotal role in shaping the future of the country’s energy landscape.

Reliance Industries, India’s leading private refiner, is set to recalibrate its Russian oil imports in full compliance with government guidelines. State-owned refiners, including Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum, are also reviewing their supply chains to ensure smooth transitions, demonstrating India’s commitment to international trade norms and energy security.

The adjustments will allow India to expand procurement from alternative markets, including the Middle East and other global suppliers, maintaining steady crude supplies while enhancing long-term energy resilience. Analysts estimate that the change will have a minimal impact on the overall import bill, reflecting efficient planning and cost management.

By diversifying sources, Indian refiners are strengthening the country’s energy independence and reducing risks associated with relying heavily on a single supplier. This approach also provides new opportunities to explore competitive global markets and adopt best practices in supply chain management.

The move comes at a time when India is negotiating trade agreements with the U.S., and realignment of oil imports could help facilitate favorable outcomes for Indian exporters. By proactively adjusting trade practices, India demonstrates flexibility and foresight in balancing domestic needs with global obligations.

Industry experts highlight that India’s ability to source crude from multiple regions will safeguard domestic supply while supporting continued economic growth. The strategy ensures uninterrupted refinery operations and contributes to stable energy prices, benefiting both industries and consumers nationwide.

Indian refiners are also exploring innovative financial arrangements to maintain smooth operations and access global capital markets. By leveraging strong regulatory compliance and market insights, India’s energy sector is poised to remain robust and competitive in the global arena.

Overall, the strategic recalibration of oil imports reflects India’s proactive approach to energy security, trade cooperation, and economic stability. By diversifying supply sources and aligning with international norms, the country is setting a positive course for sustainable growth and strengthened global partnerships.