India has sharply cut oil imports from Iran

Индия резко сократила импорт нефти из Ирана

The main buyer of oil from Iran was Indian Oil Corp., which in August have reduced imports by 47% to 134 thousand barrels per day.

India in August have reduced Iranian oil imports by 36% relative to previous month – to 488 thousand barrels per day. About it reports Interfax-Ukraine with reference to calculations by Bloomberg on Tuesday, September 4.

In July, the volume of Iranian oil supplies to India amounted to 768 thousand.

Last month, refused to buy oil in Iran, the Indian company Reliance Industries, Chennai Petroleum (a division of Indian Oil Corp.), while Hindustan Petroleum imported crude oil for the second month. Many other companies have reduced the volume of purchases.

The main buyer was Indian Oil Corp., which in August have reduced imports by 47% in monthly terms, to 134 thousand.

India imports about a quarter of its oil from Iran. Some Indian refineries depend on the specific varieties of Iranian oil, which makes it extremely difficult to complete abandonment of the procurement.

India intends to focus on its dependence on energy imports during the us-India dialogue, said the official representative of the government of the country.

At the end of June it became known that the United States would impose an embargo on Iranian oil from 4 November of this year. Also the Americans will be ready to impose sanctions against international companies, if they will Finance the current regime in Tehran.

Iran said that oil prices will return to around $ 100 per barrel because of the actions of the US government.

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