28 Mar 2024
Wednesday 23 April 2014 - 12:07
Story Code : 93564

India more than doubles Iran oil imports

India more than doubles Iran oil imports
[caption id="attachment_93565" align="alignright" width="180"] The MRPL refinery in the Indian state of Mangalore. (File photo)[/caption]
India more than doubled its crude oil imports from Iran last month from a year ago as sanctions have eased on Tehran, official data show.
The figures released on Tuesday indicated that India imported 387,000 barrels per day (bpd) of oil from Iran in March.

The statistics also showed that crude shipments from Iran in the first quarter of 2014 rose about 43 percent from the same period last year.

India imported around 358,000 bpd of Iranian crude in the first quarter of this year.

Indias imports from Iran also registered a two-fold rise in January, surging to 412,000 bpd, up from around 189,000 bpd in December.

Irans January oil shipments to the Indian customer increased by 31 percent year on year.

India is among Asias major importers of energy, and relies on the Islamic Republic to meet a portion of its energy requirements.

Irans Deputy Oil Minister Mansour Moazzami said recently that Iran had raised its crude oil exports to 1.2 million bpd, up from 700,000 last year, as US-led sanctions have relatively eased against Tehran due to a nuclear accord signed late last year.

The International Energy Agency (IEA) said recently that Irans crude oil exports in February soared to 1.65 million barrels per day (bpd), the highest since the West imposed sanctions on Tehran in June 2012.

In its monthly report released on April 11, the IEA said Irans February oil exports were up 240,000 bpd month-on-month, a development stemming from Irans nuclear deal with six world powers.

By Press TV

 

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