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[BUSINESS] · India, Iran, United Arab Emirates, Saudi Arabia, Oman · 3 sources

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Oil companies to avoid vessels on Iran's new blacklist

At least three Indian oil refiners and a major global energy company are planning to stop using vessels included on Iran’s new blacklist due to security concerns. The companies intend to avoid all dealings with these ships, including ship-to-ship (STS) transfers, to mitigate risks.

This move follows Tehran's announcement of a blacklist containing 45 ships that allegedly violated transit rules in the Strait of Hormuz. The Persian Gulf Strait Authority, a new Iranian body, warned that vessels cooperating with blacklisted ships could face fines, detention, or the confiscation of their cargo.

The restrictions appear aimed at disrupting the shuttle runs used by Gulf producers, such as Saudi Arabia and the United Arab Emirates, to move oil through the Strait of Hormuz for unloading in the Gulf of Oman. These operations are critical for maintaining Middle Eastern oil flows amidst ongoing regional tensions.

Entities

Abu Dhabi National Oil Co · Iran · Persian Gulf Strait Authority · Saudi Aramco

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