India’s oil imports from Iran slumped 27% to a five-month low in August from a high base last year and ahead of a planned shutdown by two refineries, according to ship tracking data and a report compiled by Thomson Reuters Oil Research and Forecasts.<\/p>\n
Essar Oil and Mangalore Refinery and Petrochemicals Ltd would shut units at their refineries for about a month from mid-September, leading to lower purchases from last month.<\/p>\n
India shipped in about 198,800 barrels per day (bpd) of Iran oil in August, down 7.7% from July, the data showed. Despite the drop, India is still expected to raise imports as sanctions against the OPEC country ease.<\/p>\n
In a pact clinched on July 14 between Iran and the United States, Germany, France, Russia, China and Britain, Iran would limit its controversial nuclear programme in exchange for a removal of economic sanctions.<\/p>\n
Iran was India’s second-biggest oil supplier in the fiscal year to March 31, 2007, but it slipped to seventh by last fiscal year as sanctions bit.<\/p>\n
India, the world’s fourth-biggest oil consumer and Tehran’s top client after China, bought 21% less Iranian oil at 214,100 bpd in the first eight months of this year, the data showed.<\/p>\n
April-August imports rose 21% to 266,000 bpd from a year ago.<\/p>\n","protected":false},"excerpt":{"rendered":"
India’s oil imports from Iran slumped 27% to a five-month low in August from a high base last year and ahead of a planned shutdown by two refineries, according to ship tracking data and a report compiled by Thomson Reuters Oil Research and Forecasts. Essar Oil and Mangalore Refinery and Petrochemicals Ltd would shut units at their refineries for about a month from mid-September, leading to lower purchases from last month. India shipped in about 198,800 barrels per day (bpd) of Iran oil in August, down 7.7% from July, the data showed. Despite the drop, India is still expected to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[133],"tags":[],"class_list":["post-32022","post","type-post","status-publish","format-standard","hentry","category-oil-gas"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/32022","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=32022"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/32022\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=32022"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=32022"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=32022"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}