In June 2017, Iran sold 502,000 bpd of crude oil to Indian public and private companies, which compared to the previous month, this figure rose by 83,000 bpd .
The strategic Chabahar Port located in the Sistan-Balochistan province of Iran will start functioning within 12-18 months.
Despite India willing to invest as much as $11 billion to develop Iran’s Farzad B gas field, the war of words between the two countries has only intensified with Tehran now saying that it is under no obligation to award the contract to India.
A Niti Aayog report has said that India should explore options of setting up a manufacturing facility for methanol or dimethyl ether in Iran or Qatar as these countries have huge reserves of natural gas and can provide the same at very low prices.
India’s government-run refiners plan to import less Iranian crude oil in the 2017/2018 fiscal year ending March 2018, than the crude from Iran they bought in the previous fiscal year, according to India’s Oil Minister Dharmendra Pradhan.
The nuke deal reached in 2015 with the world powers has reshaped the Iranian economy in general, and particularly energy sector.
Iran has begun exporting gas through a pipeline to Baghdad under a deal set to make Iraq the Islamic republic’s top customer, the oil ministry said.
Coal India is looking to diversify its operations in the face of long-term uncertainty for coal because of the government’s thrust on renewable energy and considering entering mining of metals and minerals.
Iran has signed a basic agreement with Russian energy giant Gazprom for development of Farzad B gas field, discovered by a consortium of Indian state-run companies, in an apparent retaliation against India’s bid to pressure Tehran+ for a formal deal by cutting purchase of Iranian oil.
Iran has signed a basic agreement with Russian energy giant Gazprom for development of Farzad B gas field, discovered by a consortium of Indian state-run companies