An Iran-bound crude shipment initially headed for India changed course mid-voyage and began moving towards China, sparking speculation about payment issues or sanctions-related hurdles.
The Ministry of Petroleum and Natural Gas clarified that there are no payment problems and any such claims are 'factually incorrect.'
The ministry explained that mid-voyage changes are not unusual in the oil trade, citing commercial and operational factors.
Indian refiners continue to procure oil from a diversified pool of suppliers worldwide, with 40 countries being the source of crude oil imports.
The ministry reassured markets that India's energy needs remain fully covered, with ongoing energy trade with Iran and secured crude oil requirements for the coming months.
