Iran's Blacklist Sparks Security Concerns for Oil Firms

Iran has released a blacklist of 45 ships that have allegedly broken its rules for crossing the Strait of Hormuz, including tankers owned or chartered by Saudi Aramco and Abu Dhabi National Oil Co (ADNOC). The move is part of Iran's efforts to impede the so-called shuttle runs Gulf oil producers have undertaken with dedicated tankers to move oil from the Gulf through Hormuz for unloading through STS transfers in the Gulf of Oman.

At least three Indian oil refiners and a global energy major plan to stop using vessels on Iran's blacklist, including for ship-to-ship transfers, due to security concerns. The named vessels could be fined, detained, and have their cargoes confiscated, according to a post on social media website X from the Persian Gulf Strait Authority.

Saudi Aramco and ADNOC declined to comment on the matter. Ana Subasic, a trade risk analyst at shiptracking firm Kpler, said compliance-sensitive buyers are expected to avoid these vessels moving forward, but the trade is more likely to reroute through alternative tonnage, counterparties, or transfer locations.