Two Indian state-run refiners have suspended crude oil loadings from Iraq as mounting security risks in the Strait of Hormuz make it increasingly difficult to ensure safety of vessels, according to people familiar with the matter.
Indian Oil Corp. abandoned plans to load the supertanker Lila Jamnagar, which can hold as much as 2 million barrels of oil, the people said, asking not to be identified because the matter is private. The refiner concluded it was too risky for a fully laden tanker to attempt a Hormuz crossing, after several freighters were struck by projectiles in recent days.
