India’s oil imports from Iran rise 46 percent in Jan-July

India increased its oil imports from Iran by about 46 percent in January-July compared with the same period last year, tanker arrival data from trade sources show.

India imported about 270,600 barrels per day (bpd) of Iranian oil over the first seven months of the year, which is up from 185,700 bpd in the corresponding time span last year, Reuters reported on Friday.

According to the data, India’s shipments from Iran in July were about 210,300 bpd, nearly six times the intake in July 2013.

India’s oil imports last month from Iran also rose by about 26 percent from June this year

State-run Mangalore Refinery and Petrochemical Ltd (MRPL) was the biggest buyer of Iranian oil last month followed by Essar Oil Ltd, the data show.

India is among the main importers of Iran’s crude exports.

Iran has seen a rise in its oil exports following the implementation of an interim nuclear deal between Iran and six world powers over Tehran’s nuclear energy program as of January.

The Geneva deal sealed between Iran and the five permanent members of the UN Security Council – the United States, China, Russia, France and Britain – plus Germany last November has provided Iran with some sanctions relief in exchange for the country having agreed to limit certain aspects of its atomic work.

Part of sanctions imposed on Iran over its nuclear energy program targeted the Islamic Republic’s oil and financial sector.

By Press TV


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