India’s Oil Imports from Iran Rise in February: Report
TEHRAN (Tasnim) – Iran’s crude exports to India rose by nearly 17 percent in February compared to a month earlier, a report said.
Ship tracking data showed India’s imports from Iran rose to 647,000 barrels per day (bpd) in February, 16.7 percent more than January, Reuters reported.
In the first 11 months of this fiscal year, between April and February, India imported about 542,400 bpd from Iran, compared to about 225,522 bpd for the same period a year ago. Average oil volumes supplied by Iran over this period were the highest on record.
In the first two months of 2017, India's oil imports from Iran averaged 598,400 bpd compared to about 192,500 bpd a year ago, the data showed.
Reliance Industries, Hindustan Petroleum, Bharat Petroleum and HPCL-Mittal Energy Ltd (HMEL) were among Indian refiners that resumed imports from Tehran following the removal of anti-Tehran sanctions.
The sanctions were terminated after Tehran and the Group 5+1 (Russia, China, the US, Britain, France, and Germany) on July 14, 2015, finalized a lasting nuclear deal known as the Joint Comprehensive Plan of Action (JCPOA) and implemented it on January 16, 2016.
