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India's Oil Imports from Iran Rise in June: Report

  • July, 02, 2016 - 14:26
  • Economy news
India's Oil Imports from Iran Rise in June: Report

TEHRAN (Tasnim) – India’s oil imports from Iran witnessed a 39 percent rise in June year on year, a report said.

Economy

Indian refiners shipped in 342,000 barrels per day (bpd) from Iran in the first half of 2016 in comparison with 216,500 bpd in 2015, preliminary data obtained by Reuters showed.

In June, Indian refiners took in about 381,500 bpd of Iranian oil, the data added.

The June shipments were about 0.6 percent higher from Iranian volumes in May. In June last year India shipped in about 274,800 bpd oil from Iran.

Private refiner, Essar Oil, was the top Indian client of Iran in June, importing about 180,600 bpd, followed by Mangalore Refinery and Petrochemicals Ltd with about 69,000 bpd, and Reliance Industries Ltd with about 64,000 bpd.

Indian Oil Corp, the country's biggest refiner, imported about 32,000 bpd, the shipping and terminal data showed.

According to reports, India is set to import at least 400,000 barrels per day (bpd) of Iranian oil in the year from April 1, with refiners looking to ramp up purchases after a lasting nuclear deal between Tehran and world powers.

The sanctions were lifted after Tehran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) on July 14, 2015 reached an agreement on Iran’s peaceful nuclear program and started implementing it on January 16.

 
R1355/P42410
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