Iran ships 5.67 million tonnes of oil to India in April-June quarter, overtakes Saudi Arabia to become second largest supplier


Iran ships 5.67 million tonnes of oil to India in April-June quarter, overtakes Saudi Arabia to become second largest supplier

Iran was the second-biggest oil supplier to Indian State refiners between April and June, Petroleum Minister Dharmendra Pradhan said on Monday, as Tehran’s steep discounts meant it replaced Saudi Arabia in second place. Iraq continues to be the top oil supplier to India.

India is also Iran’s top oil client after China, and received 5.67 million tonnes or about 457,000 barrels per day (bpd) of oil from the country in the first three months of this fiscal year, Pradhan told Indian lawmakers in a written reply.

He did not provide comparable numbers from the previous year. Data compiled by Reuters shows that India imported about 3.46 million tonnes, or about 279,000 bpd, from Iran between April and June last year.

State refiners, accounting for about 60 percent of India’s 5 million bpd refining capacity, had curbed imports from Iran last year in protest against Tehran’s move to grant development rights for the giant Farzad B gas field to other parties. Read More

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