Fresh figures show that India’s crude oil imports from Iran have increased by nearly 50 percent in January-August compared with the same period in 2013.
According to data from trade sources, New Delhi imported 271,000 barrels per day (bpd) of Iranian crude in the first eight months of this year, which is nearly double the amount it had purchased during the corresponding time span last year.

Figures further indicate that India bought 273,500 bpd of Iranian oil in August, up 30 percent from the previous month and some 81 percent higher than a year ago.

The August rise in India’s oil imports from Iran came after the Indian Oil Corporation, the country’s biggest refiner, shipped in nearly two million barrels of Iranian crude following a two-month gap.

Last month, Reuters cited similar data showing that Indian crude imports from the Islamic Republic rose by around 46 percent in January-July compared with the same period in 2013.

India is the largest buyer of Iran’s crude after China.

Iran has seen a rise in its oil exports following the implementation of an interim nuclear deal between the Islamic Republic and the five permanent members of the UN Security Council - the United States, China, Russia, France and Britain - plus Germany.

The interim agreement has provided Iran with some sanctions relief in exchange for the country having agreed to limit certain aspects of its civilian nuclear work. Part of the sanctions targeted the Islamic Republic’s oil and financial sector.

By Press TV

 

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