Iran “not concerned” by Indian threat to cut oil imports


Iran “not concerned” by Indian threat to cut oil imports

Iran’s oil minister dismissed India’s decision to cut oil imports from Tehran in 2017/18 by a fifth as a threat on Wednesday, in an escalation of a dispute over a giant gas field contract.Sources familiar with the matter told Reuters last week that Indian state refiners were going to cut oil imports from Iran, as New Delhi seeks to put pressure on Tehran to award the Farzad B gas field to an Indian consortium.”India is one of our good customers, but we cannot sign (a) contract under threat,” Bijan Zanganeh was quoted as saying by Iran’s ISNA news agency. “India’s cut of oil imports from Iran will not cause any trouble to us as we have other buyers,” he added.”Their proposal was not profitable to Iran … We sent (the) Indians a letter and told them we are keen to continue negotiations, but under sensible conditions, not under threats.”The consortium, which also includes Oil India and Indian Oil Corp, could not obtain permission to develop the field due to Western sanctions, but those sanctions were removed last year. Sources familiar with the matter told Reuters last week that Indian state refiners were going to cut oil imports from Iran, as New Delhi seeks to put pressure on Tehran to award the Farzad B gas field to an Indian consortium.

Credits: economictimes.indiatimes.com

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