Red Sea crisis: No impact on crude supply to India, says HPCL head

NEW DELHI: The ongoing attacks on shipping vessels by Houthi militants in the Red Sea have not impacted the flow of crude oil to India but have elevated the price of freight, said Pushp Kumar Joshi, the chairman of Hindustan Petroleum Corporation Ltd. (HPCL).

During a post-third quarter earnings call with investors, Joshi attributed the increase in freight costs to the need to reroute shipping vessels via the Cape of Good Hope.