Indian Oil secures oil from Iraq, fails to get tanker to transport it back to India: Report

Indian Oil (IOCL) managed to secure oil from Iraq's Basrah oil terminal as Iran and the US announced a ceasefire MoU after the 107-day war, Reuters reported. However, IOCL failed to get any offers in a tender seeking a very large crude carrier to transport the oil to Paradip port. IOCL subsequently issued a force majeure on the cargo.