MUMBAI: Public sector general insurerNew India Assurancetoday said the energyinsurancepool proposed by government to provide cover to domestic firms for processing Iranian crude oil may not be sufficient to cover the risks.
Earlier, the government had proposed to create an energy insurance pool (EIP) of Rs 2,000 crore to back domestic insurers who ...
Solution to land boundary disputewith Bangladesh in sight; constitutional amendment Bill for it may be moved once Parliament session resumes
India may be close to finding a solution to the vexed issue of insuring oil imports from Iran, after major West-based insurers pulled the plug due to US-led sanctions barring companies from interacting with Iran....
(Reuters) - India plans to set up a fund of up to 20 billion rupees ($368.4 million) to back local insurers in offering cover to refiners who process Iranian crude, three government sources said, as sanctions discourage global reinsurers from taking on the risk.
The money will come from the premiums normally paid by insurers forreinsurancecover, said ...
India is set to create a multi-million-dollar Energy Insurance Pool (EIP) fund as part of efforts to support local insurers giving coverage to refiners processing Iranian crude oil.
According toThe Financial Expressreport on Saturday, the Indian government will set up a 20-billion-rupee (about USD 400 million) fund for this end, and will extend sovereign ...
NEW DELHI, (Reuters) - Energy-hungry India has sought clarification from the European Union on insuring oil supplies from Iran as trade with Tehran gets tougher due to Western sanctions, India's foreign minister said on Friday.
European reinsurance firms under heavy pressure to help block Iran's oil exports are reluctant to deal with Indian insurers ...
NEW DELHI (Reuters) - India plans to set up a fund to back local insurers providing cover for refiners processing Iranian oil after companies warned they would be forced to halt imports from the sanctions-hit nation, the federal oil secretary said on Sunday.
Mangalore Refinery and Petrochemicals Ltd (MRPL) and Essar Oil have said they would halt imports ...
Feb 13 (Reuters) - India will ensure its refiners have insurance for plants that run crude fromIran, a government source said on Wednesday, allaying fears that imports from the sanctions-hit country may have to be halted.
State-run refiner Hindustan Petroleum Corp said on Tuesday it might not be able to use Iranian crude at its plants from June if ...
NEW DELHI, Jan 15 (Reuters) - A loophole in an Indian insurance scheme has allowedIran's state-run tanker company NITC to bolster oil exports by chartering a vessel insured by India's state-run firms, industry and shipping sources said on Tuesday.
European Union and U.S. sanctions to force Iran to curb its nuclear programme cut Iran's oil exports ...
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