India's Top Refiner IOCL Scouts Stakes in Gas Carriers as It Plans Higher US Imports
IOC plans to own VLGCs for the first time as it prepares for higher U.S. LPG imports and lower reliance on chartered ships.
- On Wednesday, the Business Standard reported that Indian Oil Corp is seeking 50% ownership stakes in very large gas carriers , a first for an Indian refiner, to transport increased volumes of liquefied petroleum gas from the United States.
- India bought about 90% of its LPG imports from the Middle East in 2025, but the Iran war and Strait of Hormuz closure caused severe shortages earlier this year, exposing freight as a major constraint on energy security.
- IOC is accepting bids for ships with carrying capacities between 80,000 and 93,500 cubic meters, with eligible vessels no more than 12 years old; bidders may submit as many as two ships for registration under the Indian flag.
- This expansion supports India's pledge to increase United States energy purchases by $10 billion to $25 billion and reach $500 billion in bilateral trade by 2030, with state retailers beginning U.S. LPG imports in 2027.
- New Delhi expects LPG imports to reach about 20 million metric tons next year as national consumption returns to roughly 31 million tons, while owning VLGCs will help IOC reduce exposure to volatile charter-market freight rates.
10 Articles
10 Articles
India's top refiner scouts stakes in gas carriers as it plans higher US imports
India's top refiner, Indian Oil Corp (IOC) , is looking to acquire a 50% stake in very large gas carriers (VLGCs), according to a tender document, as it prepares to increase imports of liquefied petroleum gas (LPG) from the United States.
Indian Oil Eyes Stakes In Gas Carriers To Cut U.S. LPG Freight Costs
Indian Oil Corp. is seeking 50% ownership stakes in very large gas carriers, a first for an Indian refiner, as the company prepares to transport higher volumes of U.S. liquefied petroleum gas under India’s plan to source up to one-quarter of its LPG imports from the United States in 2027 and reduce its exposure to charter-market freight rates, the Business Standard reported on Wednesday. Indian Oil is accepting bids for ships with carrying capac…
Higher US LPG imports: Why Indian Oil is looking to acquire 50% stake in very large gas carriers
If the plan goes ahead, IOC will become the first Indian refiner to own VLGCs. At present, the company primarily depends on time-chartered vessels to transport both LPG and crude oil.
India's top refiner IOCL scouts stakes in gas carriers as it plans higher US imports
Indian Oil Corporation is seeking to acquire a fifty percent stake in very large gas carriers. This move prepares the company for increased liquefied petroleum gas imports from the United States. Indian state fuel retailers will increase their purchases of U.S. LPG starting from the year 2027. The company is looking for vessels that are no more than twelve years old.
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