India negotiating with Iran over safe passage of 20 oil tankers through Hormuz

India is negotiating with Iran to ensure safe passage for over 20 oil and gas tankers through the Strait of Hormuz, Bloomberg reported. The talks are being handled by the Ministry of Foreign Affairs, the report added.

The narrow waterway connecting the Persian Gulf to the Gulf of Oman is currently shut amid the ongoing Iran war. A fifth of the world's crude oil typically flows through the Strait of Hormuz.

These tankers, containing liquefied petroleum gas, liquefied natural gas, and crude oil, have been stranded in the Strait of Hormuz since the US and Israeli attacks on Iran.

Earlier in the day, sources told India Today that Iran had allowed the Indian oil tankers to pass through the strategically vital waterway after External Affairs Minister S Jaishankar and his Iranian counterpart Abbas Araghchi spoke to each other. Later, MEA spokesperson Randhir Jaiswal also mentioned the talks between the two leaders but refused to share more information.

Jaishankar tweeted earlier this week, saying he had spoken with his Araghchi and that both sides have agreed to remain in touch. He, however, did not mention the ships.

Meanwhile, Energy Minister Hardeep Singh Puri said in Parliament on Thursday that there is no fuel shortage in the country.

"The world has not faced a moment like this in modern energy history...India's crude supply position is secure, and the volume secured exceeds what the Hormuz would have delivered. Before the crisis, approximately 45 per cent of India's crude imports transited through the Strait of Hormuz route. Thanks to the Prime Minister's outstanding diplomatic outreach and goodwill, India has secured crude volumes that exceed what the disrupted Strait of Hormuz could have delivered in the same period," he added.

The Minister further said that the oil refineries are operating at high capacity utilisation, with many exceeding 100 per cent. Puri said that sourcing from non-Hormuz countries has also risen nearly 70 per cent for crude imports, up from 55 per cent when the conflict began. "The refineries are operating at high capacity utilisation. In several cases, they are exceeding 100%. There is no shortage of petrol, diesel, kerosene, ATF or fuel oil. The availability of petrol, diesel, aviation, turbine fuel, kerosene and fuel oil is fully assured. Retail outlets across the country are stocked and supply chains for these products are functioning normally."

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