CEO: Haldia has ample naphtha, plans to step up local purchases amid US–Iran conflict

India's Haldia Petrochemicals has sufficient naphtha feedstock at its plant along with supplies already at sea and does not expect the US-Iran conflict to disrupt immediate production, its chief executive told Reuters on Monday.

"We are planning to maximise sourcing from the domestic market if the war continues," CEO Navanit Narayan said. Marine insurers have cancelled war risk coverage for vessels and oil shipping rates are set to surge further after the widening conflict left at least three tankers damaged, a seafarer killed and 150 ships stranded around the Strait of Hormuz.

Haldia Petrochemicals buys naphtha for its 700,000 ton-per-year ethylene cracker primarily from the Middle East and partly from local refiners.