Oil imports from Iran down

GN Bureau | December 7, 2015



India's oil imports from Iran fell for the fourth straight month in November to touch an eight-month low, preliminary tanker arrival data obtained by Reuters shows, as its two biggest buyers cut purchases to meet annual targets.

Western sanctions against Iran's controversial nuclear programme limits the Gulf country's oil exports to 1-1.1 million barrels per day (bpd), with buyers such as India curbing annual purchases to 220,000 bpd.

But India, the world's fourth biggest oil consumer, has been stepping up purchases of cheaper crude from regions including the Asia-Pacific and Latin America.
 
In the first eight months of the current fiscal year that began in April imports are down by about 1 percent at 235,400 bpd.

Previously OPEC's No. 2 producer, Iran is now trying to recoup market share lost due to the sanctions and has extended crude deals with the top two Chinese buyers into 2016 while initiating talks with other potential buyers.

Asian imports of Iranian oil fell to the lowest level in two years in October as most of Iran's biggest crude buyers held off from increasing purchases after a July agreement that would grant relief to Iran from sanctions early next year if it curbs its nuclear programme.

Comments

 

Other News

NITI Aayog rolls out three year action agenda

 Even as a vision and a strategy agenda is in "advanced stages" of finalisation at NITI Aayog, the government think tank has released a draft three year action agenda for public consultation.  The draft action agenda, divided in seven parts and 24 chapters, proposes to reduce

It’s a cause of worry, says NHRC on killing of 25 CRPF troopers

The National Human Rights Commission (NHRC) on Tuesday said it was “disturbed” over the killing of 25 Central Reserve Police Force (CRPF) personnel by Naxalites in Chhattisgarh on April 24. The troopers were attacked while on duty for securing road construction work in the Bur

99% complaints filed through Twitter resolved: BSNL

 Twitter Sewa unveiled by the ministry of telecommunications last year to resolve users’ complaints through micro blogging site Twitter has yielded fruitful results by resolving 99 percent of the complaints.   According to BSNL data, as on April 15, 2017, it has receiv

People of Delhi now hate Kejriwal: Vijay Goel

What is your perception about Arvind Kejriwal’s brand of politics?   In Delhi, after the BJP and the Congress, people wanted to give the Aam Aadmi Party a chance. However, after the Delhi assembly polls, his (Kejriwal`s) political fortune has been on the declin

BHEL’s biggest foreign power project takes off in Bangladesh

Bharat Heavy Electricals Limited’s biggest export order, valued at Rs 10,000 crore for setting up 1,320 MW Maitree thermal power project in Bangladesh has taken-off following the issuance of the ‘notice to proceed’ by the developer.   BHEL said that it won a

For a free and open access

Mozilla is working on two separate goals in net neutrality. One is to bring everyone online; ensure that everyone has access to the internet. The other is to ensure that the network should remain open and diverse. We want people to have access to the whole diversity of the internet and not just in



Video

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter