India imported 4.3 million barrels per day (bpd) of oil in May, a decline of 11% from the previous month, according to preliminary tanker arrival data obtained from shipping and industry sources, as some refiners plan maintenance work.
Iran’s share in India’s overall crude imports shrank to about 3 per cent in May from 16 per cent a year earlier as New Delhi, under pressure from tough U.S. sanctions, suspended purchase of oil from the OPEC-member from last month, the data showed. Iran, which was third-biggest oil supplier to India in May 2018, slipped to ninth last month from seventh in April, the data showed.
India received 132,000 barrels per day (bpd) of Iranian oil that was lifted in late-April, a decline of 81% from a year earlier the data showed. To make up for the loss of Iranian oil, India turned to oil from Iraq, the United States Read More
Latest posts by Financial Express (see all)
- Indian Railways to bring transparency! Ministry studying profiles of officials under anti-corruption drive - July 17, 2019
- India’s overhauled oil policy unlikely to be a game-changer: Wood Mackenzie - July 17, 2019
- Train 18 project back on track! New tendering process announced for Indian Railways 3rd world-class train - July 17, 2019