India could cut US shale import to offset Iran loss


India could cut US shale import to offset Iran loss

India is becoming increasingly uncomfortable with the idea of buying more American shale oil, which the US has been pushing to counterbalance the impact of sanctions on Iranian oil exports, officials with direct knowledge of the matter said on condition of anonymity.

India’s main problem with US shale is that it will be more expensive for Indian refineries to process it, effectively increasing the price of the output.

The officials, who didn’t want to be named, said that once the US sanctions on Iranian oil kicked in, India’s future purchases from alternative energy suppliers will be finalised keeping in mind the country’s energy and commercial security. Read More

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