India reducing its oil imports from Iranian regime

[Yamam]

EW DELHI - India imported about 36 percent less oil from Iran in February than in January, because of efforts to meet US requests to restrict purchases from Tehran to 195,000 barrels per day (bpd) in the six months to July 20, data from trade sources showed.

Washington last month asked New Delhi to limit Iranian oil imports to about 195,000 bpd after India and China sharply raised imports in January.

India shipped in about 266,000 bpd oil from Iran last month, a decline of about 8.7 percent from a year ago, tanker arrival data compiled by Reuters showed.

Tehran and Western world powers have agreed a deal, running from Jan. 20 to July 20, that requires Iran to curb its nuclear program in return for a calibrated release of $4.2 billion it is owed in back payments for its oil.

The Nov. 24 agreement was also aimed at holding Tehran's oil exports at "current volumes" of about 1 million bpd but in January Iran's four top clients, including Japan and South Korea, together took 1.25 million bpd.

Very welcomed news. If India can meet its energy needs from elsewhere, this will put a dent in the Iranian regime's finances which are haemorrhaging due to their terrorist activities and wars in the region.

 

[kaykay]

Very welcomed news. If India can meet its energy needs from elsewhere, this will put a dent in the Iranian regime's finances which are haemorrhaging due to their terrorist activities and wars in the region.

Its short term happiness for west. Next govt(in next 3-4 months) will be of BJP which is kind of very pro business with Iran(last time Indo-Iran ties grew stronger under their govt) and kind of pi$$ed of with USA.

 

[Yamam]

Its short term happiness for west. Next govt(in next 3-4 months) will be of BJP which is kind of very pro business with Iran(last time Indo-Iran ties grew stronger under their govt) and kind of pi$$ed of with USA.

Interesting. Perhaps by then the situation with Iran will be different and this won't matter.

However I suspect that pressure from the US will tell in the end. India will not align itself with Iran and endanger ties with the US.

Besides, if your energy is being covered by other nations, there's no need to buy from Iran - you're not ideologically or culturally connected.

 

[IndoUS]

People do realize that this is because of the Nuclear deal that Iran is planning to sign.

Exclusive: India to slash Iran oil imports to meet nuclear deal parameters - sources| Reuters

 

[Cheetah786]

I thought Indians were laying down undersea pipelines to import oil and Gas form Iran but any how how does India plan to meet her daily requirement after cutting this.

 

[Kloitra]

I thought Indians were laying down undersea pipelines to import oil and Gas form Iran but any how how does India plan to meet her daily requirement after cutting this.

This was replaced by import from South America.

To replace lost Iranian volumes, India imported about 14 percent more oil from Latin America in the April-February period, with the region accounting for about 19 percent of overall imports, up from about 17.5 percent a year ago.

India's Feb Iranian oil imports fall 36 pct versus Jan- trade| Reuters

 

[janon]

I thought Indians were laying down undersea pipelines to import oil and Gas form Iran but any how how does India plan to meet her daily requirement after cutting this.

AFAIK, that pipeline is for natural gas only, not oil.

This is only a temporary measure, and more to do with Iran-US agreements than India. Anyway, there are plenty of other suppliers in the meanwhile.

 

[Kloitra]

Its short term happiness for west. Next govt(in next 3-4 months) will be of BJP which is kind of very pro business with Iran(last time Indo-Iran ties grew stronger under their govt) and kind of pi$$ed of with USA.

The reduction is to comply with the deal between West and Iran. Not due to some pro west policy.