India, second largest buyer of Iranian crude

[Blackmoon]

Iran’s crude oil exports to India in March 2016 surges from 290 to 505 thousand barrels per day turning the South Asian country into Iran’s second largest oil customer.
During sanction years, India purchased about 20 per cent of Iran’s oil exports equal to an average of 200 thousand barrels per day.

Following the implementation of the Joint Comprehensive Plan of Action (JCPOA), India increased its oil imports from Iran as Indian refineries have made new oil purchase proposals.

The surge in oil exports marks a significant achievement for the Iranian government in development of activities in regional markets after the removal of sanctions.
In March 2016, India’s Essar Oil refinery ranked first in importing crude oil from Iran while Mangalore Refinery and Petrochemicals Limited (MRPL) stood in the second place.

Also after a six-year hiatus, Reliance Petroleum Limited of India purchased a shipment of oil condensate produced at Iran’s Forouzan oilfield.
On the basis of a report released by Iranian Ministry of Oil’s Office for OPEC affairs and relations with energy organizations, the average volume of India’s imports from Iran reached 4.35 million barrels per day in the first three months of the year 2016 indicating a 500-thosand increase as compared to same period a year earlier.

Iran remains as the third supplier of India’s oil demands following Saudi Arabia and Iraq.
The South Asian country’s imports from Iran reach a total of 505 thousand barrels in March revealing a 290-thousad growth as compared to February, 2016.

Currently, Iran ranks third among oil exporters to India while at the beginning of 2016 the country only stood in the sixth place.

Recently, Reuters touched upon Iran’s oil exports to India reporting “India’s crude oil imports from Iran have reached more than 500 thousand barrels per day marking the highest level in the past five years.
http://www.hellenicshippingnews.com/india-second-largest-buyer-of-iranian-crude/

 

[kaykay]

Iran is regaining its old position in Indian market again....I won't be surprised if It becomes 2nd largest crude oil supplier to India in next few months.

 

[nang2]

Why talking about the second largest without telling the "first" largest? Which country is its largest oil customer?

 

[Chinese-Dragon]

Why talking about the second largest without telling the "first" largest? Which country is its largest oil customer?

Don't ask.

 

[Path-Finder]

Why talking about the second largest without telling the "first" largest? Which country is its largest oil customer?

A wild stab in the Dark is it? ---->

 

[nang2]

A wild stab in the Dark is it? ---->

No. I really don't know the answer. I was hoping the news should tell me but it didn't.

 

[Chinese-Dragon]

No. I really don't know the answer. I was hoping the news should tell me but it didn't.

China of course, but the geopolitical waves are flowing in every direction right now.

Saudi Arabia is trying to steal Iran's biggest oil customer: China - CNN Money

In fact China is the 4th largest oil producer on the planet, we produce more oil than Iran and Iraq. However our demand is so high. And will continue to be until we can properly harness our massive shale reserves, which will take more than a decade.

List of countries by oil production - Wikipedia

 

[SrNair]

Well this is just a beginning .With Chabahar port development and ever increasing oil demand in India consumption will again increase .

 

[C130]

China of course, but the geopolitical waves are flowing in every direction right now.

Saudi Arabia is trying to steal Iran's biggest oil customer: China - CNN Money

In fact China is the 4th largest oil producer on the planet, we produce more oil than Iran and Iraq. However our demand is so high. And will continue to be until we can properly harness our massive shale reserves, which will take more than a decade.

List of countries by oil production - Wikipedia

China has hit peak oil. your mainland oil fields are in decline, and this is why you are so interested in the SCS.


this is no big deal, China has made big plays to secure it's oil appetite from Russia,Africa, and the Middle East.

 

[Local_Legend]

What's the oil reserve of India ? Is it still 2 weeks ?

 

[Chinese-Dragon]

China has hit peak oil. your mainland oil fields are in decline, and this is why you are so interested in the SCS.


this is no big deal, China has made big plays to secure it's oil appetite from Russia,Africa, and the Middle East.

We just need to hang on until we can properly harness Shale, since we have the largest reserves of Shale gas on the planet. That along with Renewable energy (especially hydroelectric) and the traditional coal will be our mainstays.

The oil/gas pipelines from Russia and Central Asia are certainly needed right now, and probably will continue to be needed for a long time still.

 

[C130]

We just need to hang on until we can properly harness Shale, since we have the largest reserves of Shale gas on the planet. That along with Renewable energy (especially hydroelectric) and the traditional coal will be our mainstays.

The oil/gas pipelines from Russia and Central Asia are certainly needed right now, and probably will continue to be needed for a long time still.

http://www.oilandgas360.com/why-china-will-never-see-a-shale-boom/
Chinese shale isn't like the U.S shale. while ours is easy to frack and extract the oil/gas the Chinese is very different.

 

[Chinese-Dragon]

Chinese shale isn't like the U.S shale. while ours is easy to frack and extract the oil/gas the Chinese is very different.

Yes, but even still, we are pumping Shale right now.

It will take a while of course to get going (more than a decade) but we aren't going to stop until we get there.

Already the vast majority of our energy comes from domestic coal and hydroelectricity. According to the World Bank, China only imports around 14% of our energy usage, one of the lowest in the world:

http://data.worldbank.org/indicator/EG.IMP.CONS.ZS

 

[Local_Legend]

Might be a cross talk bu wish to ask , is there any tax rule regarding the vehicles which consumes more fuel ? Such as suv ? @C130

 

[CorporateAffairs]

What's the oil reserve of India ? Is it still 2 weeks ?

Two massive underground crude oil storage facilities under fast pace construction in two Indian cities.
One on east coast and other on west coast.