Amid uncertainty over impending US sanctions against Tehran, Indian Oil Corp (IOC) has booked for import of usual monthly quantity of 0.75-0.8 million tonnes of crude oil from Iran in October but is unsure if the trade would continue thereafter, a senior official said.
While India wants to continue importing Iranian oil, albeit a reduced volume, US Secretary of State Mike Pompeo last week stated that Washington would consider waivers on the embargo but made clear that these would be time-limited, if granted.
State refiners, however, have no advice from the government on Iranian imports yet, the official said. IOC, he said, had planned to import of 9 million tonnes of Iranian oil in the 2018-19 fiscal (April 2018 to March 2019).
“This comes to a monthly volume of 0.75 million tonnes and we have been doing similar kind of import till now, including in September. Read More
Latest posts by The Economic Times (see all)
- Refiners may reduce oil imports as crude prices soar, Re struggles - September 24, 2018
- CIL aims to supply 17.5 mt coal a year to captive power producers - September 24, 2018
- Railways To Install Latest Signalling System On Mathura-vadodara Route - September 24, 2018