China's Crude Imports from Saudi Slip, Russia Up 31%
China's March crude oil imports from top supplier Saudi Arabia fell 1.6% from a year earlier, while purchases from No.2 supplier Russia rose 31%, Reuters' calculations based on customs data showed on Sunday.China's March crude oil imports rose 4.5% year on year to 9.68 million barrels per day (bpd) as refiners stocked up on cheaper cargoes despite…
Indian Oil Sees No Impact from U.S. Sanctions on Refinery JV Investment with Iran
Indian Oil Corp.'s planned $5.10 billion expansion of its unit Chennai Petroleum , partly owned by Iran, is not expected to be hit by U.S. sanctions against Tehran, Chairman Sanjiv Singh said on Monday.Chennai Petroleum plans to invest up to 356.98 billion rupees to replace its 20,000 barrel per day (bpd) Nagapattinam refinery in Southern Tamil Nadu state with a 180…
India Cuts Iranian Oil Imports Ahead of Sanctions
Indian refiners cut imports of Iranian oil last month as they started weaning their plants off crude from the country to avoid sanctions by the United States that are set to take effect in November.India's monthly oil imports from Iran declined to 592,800 barrels per day (bpd) in June, down 16 percent from May, according to data from industry…
India BPCL Seeks Extra Iran Oil Amid Sanctions Threat
Indian state refiner Bharat Petroleum Corp has requested an extra one million barrels of oil from the National Iranian Oil Co. (NIOC) for June, two industry sources said, amid a looming threat of stringent U.S. sanctions.The move by BPCL indicates that refiners will try to frontload their purchases from Iran ahead of a November U.S. deadline for…
Indian Oil to Turn to Traditional Suppliers to Meet Iran Oil Shortfall
Indian Oil Corp (IOC), the country's top refiner, will turn to its traditional oil suppliers, mostly in the Middle East, if U.S. sanctions against Iran result in supply disruptions, its head of finance said.U.S. President Donald Trump earlier this month pulled out of a 2015 international nuclear pact with Iran, and said he would impose sanctions…
Indian Delegation to Visit Iran to Discuss Oil Deals
An Indian delegation will visit Iran this week to scout for investment opportunities ahead of an anticipated nuclear deal between the OPEC-member and world powers that would soften sanctions against the country, sources privy to the plan said. Officials from India's finance and oil ministries and executives from ONGC Videsh and Mangalore Refinery…
China's 2014 Iran Crude Imports up 28 pct
China lifted almost 550,000 bpd from Iran in 2014. China's crude oil imports from Iran jumped by nearly 30 percent last year to their highest average level since 2011, customs data showed on Friday, as Iran's largest oil client boosted shipments after an interim deal eased sanctions on Tehran. Western sanctions against the OPEC member were eased…
India to Pay Iran $400m Frozen Oil Money This Week
India will soon pay a third tranche of $400 million to Iran ahead of a Nov. 24 deadline to an interim deal with six world powers that allows Tehran to recover part of its overseas frozen oil revenues, industry sources said in Wednesday. Indian oil refiners are preparing to release the payments this week, the sources said, adding Mangalore Refinery and Petrochemicals Ltd and Essar Oil will make the bulk of the payment.
India to Pay Iran $500m as Second Part of Oil Deal
Indian refiners will pay $500 million to Iran next week, the second installment in an interim deal that allows Tehran to recover part of overseas frozen oil revenues that are payments for oil it has sold, two industry sources said in Friday. Iran and the United States, China, France, Germany, Britain and Russia agreed in July to extend a six-month interim accord until Nov.
India Prepares to Pay $400 mln Under Interim Deal to Iran
Iran has sought payment of $400 million from India under an interim deal with six world powers that allows the OPEC nation to recover part of its overseas frozen oil revenues, industry sources said in Wednesday. Iran and the United States, China, France, Germany, Britain and Russia agreed in July to extend a six-month interim accord until Nov.
China's Oil Imports from Iran up 50 pct
June crude imports from Iran at 531,200 bpd, up 38 pct y/y; June crude imports lowest since Feb, down 30 pct m/m. China's crude imports from Iran in the first half of the year were up nearly 50 percent, although shipments in June dropped nearly a third from May to the lowest level in four months. China, Tehran's largest oil client, began stepping…
Iran's Oil Exports Drop in June
Iran's crude oil exports dropped in June after a spike in May, yet sales were still above the level allowed by an interim deal aimed at curbing Tehran's nuclear programme, according to sources who track tanker movements. Under the agreement signed in November between Iran and six world powers, which came into effect in January, Iran's exports should average 1 million barrels per day (bpd) through to July 20.
