India Gives Iran $11 Billion 'Best Offer' To Develop Giant Gas Field

[pin gu]

India didn't follow US sanctions did we? Also, when US sanctions someone it becomes hard for them to do business with you. You like it or not, US is too big a power to mess with. So, until we are fully sustainable we can't risk our economy. Neither we don't align with anyone.
Don't talk like as if we follow US commands we have independent policy that's why despite US sanctions we bought oil from Iran. It's fully in our interest.

sorry brother but the looks of the things before Gazprom and Total deal with Iran was say diffrent things . before that India was in delay mode and offering low prices right after Russians "basic agreements" this news pops up
Total set to sign $4.8bn gas deal with Iran - reports

 

[Chhatrapati]

sorry brother but the looks of the things before Gazprom and Total deal with Iran was say diffrent things . before that India was in delay mode and offering low prices right after Russians "basic agreements" this news pops up

I understand. Let's not run business on emotions.
The government do not fully control the oil companies. Government only foresee the transactions. Sometimes try to secure deals, put diplomatic pressure in favor of the company, which I don't know if they did in Iran's case. The decision to cut oil import was done by the company.
It's business, even if it's Iran, you will look for a deal that's economically viable like a bargain. But then like the OP someone else will try and secure it. If it's in your interest you can give us. Else you can reject it.

 

[Śakra]

India didn't follow US sanctions did we? Also, when US sanctions someone it becomes hard for them to do business with you. You like it or not, US is too big a power to mess with. So, until we are fully sustainable we can't risk our economy. Neither we don't align with anyone.
Don't talk like as if we follow US commands we have independent policy that's why despite US sanctions we bought oil from Iran. It's fully in our interest.

This is the thank you we get for trading with that pariah state during the sanctions, they claim we did nothing and "hid behind America's skirt". I hope the Modi government cuts off ties, throws sanctions, and be done with them.

 

[Chhatrapati]

This is the thank you we get for trading with that pariah state during the sanctions, they claim we did nothing and "hid behind America's skirt". I hope the Modi government cuts off ties, throws sanctions, and be done with them.

Like I said, let emotions don't run business. We can't ignore their help in case of Kashmir and cheap oil imports. Also he apologized for the remark. No need to attack him or his country. No need of an argument here.

 

[pin gu]

This is the thank you we get for trading with that pariah state during the sanctions, they claim we did nothing and "hid behind America's skirt". I hope the Modi government cuts off ties, throws sanctions, and be done with them.

India votes against Iran in IAEA resolution
India on Friday joined the US in voting against Iran in a resolution passed by UN atomic watchdog IAEA censuring the Islamic nation over its controversial nuclear programme and demanding that it stop uranium enrichment.


At a meeting of the 35-member board of governors of the International Atomic Energy Agency (IAEA) in Austrian capital Vienna, 25 countries voted in favour of the resolution spearheaded by the US.
Sanctions passed with India's vote
you cant vote for sanctions then come to get benefits from sanctioned country with lower prices because sanctions you voted for while other countries stay outside you get benefits while others get almost nothing
this is the "hiding behind America's skirt " Im talking about

I don't want to drill your topic any more

 

[DrPuff]

As India, the world's fourth-largest LNG buyer, seeks to lock up gas resources to meet growing demand and spur the use of cleaner-burning fuels, Iran is emerging from sanctions that stifled investment in its energy sector.

An Indian consortium is willing to spend as much as $11 billion to develop a giant Iranian natural gas field and build the infrastructure to export the fuel as long as the Persian Gulf nation guarantees a "reasonable return" on the project, according to the company leading the group.

ONGC Videsh Ltd. has offered to invest as much as $6 billion on the Farzad-B field and spend the remaining amount to build a liquefied natural gas export facility, according to Narendra Kumar Verma, managing director of the overseas investment unit of India's largest explorer, Oil & Natural Gas Corp. The group is seeking a return of about 18 percent, and Indian companies are willing to buy all the gas exported from the project, Verma said.


"We have given our best offer to them. Now, it is up to them to agree or not agree," Verma said in a phone interview. "We have told the Iranian authorities very clearly that some basic returns are necessary."

As India, the world's fourth-largest LNG buyer, seeks to lock up gas resources to meet growing demand and spur the use of cleaner-burning fuels, Iran is emerging from sanctions that stifled investment in its energy sector. The Persian Gulf nation on Monday plans to sign a formal contract with Total SA and China National Petroleum Corp. to develop its share of the offshore South Pars project, the world's biggest natural gas field.

Officials from Iran's Ministry of Petroleum and the National Iranian Oil Co. were unable to comment Sunday on Farzad-B.


The two countries had aimed to conclude a deal by February on developing the field, which India has said holds reserves of almost 19 trillion cubic feet. The consortium, which includes Indian Oil Corp. and Oil India Ltd., has been trying to secure development rights to the Farzad-B gas field since at least 2009.

Delay Damage

The delay over a final outcome has started hurting oil trade between the two countries. India, which bought Iranian crude even during the years of U.S.-led sanctions against Tehran, has recently reduced purchases, leading to the withdrawal by Iran of some benefits on sales in retaliation, Bloomberg reported in April.

"We are ready to invest," Verma said. "Ultimately, that's positive for them."

India is promoting the cleaner-burning fuel to curb the use of more polluting alternatives such as coal and petroleum coke, an oil-refining byproduct, to meet its pledge of slashing emissions by a third by 2030.

ONGC Videsh and Indian Oil each own 40 percent interest in the Farsi block that holds Farzad-B field, while Oil India has 20 percent.

http://www.ndtv.com/india-news/indi...best-offer-to-develop-giant-gas-field-1719701