Iran's new government scraps all oil and gas concessions to India.

[&%)@$)(!#]

This comes after Syria has been given a breather, 45% Indian currency is still good but they shouldn't have scraped the Farzad B offshore development anyway Iraq is offering us many such development projects.I guess Indian diplomats try to sort out whatever mis-understanding might have arisen among two countries.

 

[Black Eagle 90]

The new government in Iran has withdrawn all crucial oil and gas concessions that had been promised to India by its predecessor.

Oil minister Bijan N Zangeneh, it is learnt, told Indian ambassador D P Srivastava on September 1 that Tehran would not accept the entire payment for crude oil imported by India in rupees as agreed in July.

India was banking on 100 per cent rupee payment for Iranian crude to cut its forex outflow. Petroleum Minister M Veerappa Moily had assured Prime Minister Manmohan Singh last month that an additional 11 million tonnes would be imported from Iran in 2013-14 to save $ 8.47 billion.

Iran has since stopped issuing invoices in rupees for the full quantity of crude and reverted to the old system of accepting only 45 per cent of the payment in rupees.

Zangeneh, it is learnt, told Srivastava that the new Central Bank of Iran governor had complained of difficulties in transferring money in euros from India to other countries to pay for food and medicines.

Iran, he said, needed help in resolving the problem with getting 55 per cent payment in euros, which was being routed through Turkey's Halkbank, and ended in February. Zangeneh wants India to renegotiate the terms and revert to majority euro payment.

Zangeneh also told the Indian envoy that the previous regime's offer to sign a production sharing contract (PSC) for the Farzad B offshore gas field was "not acceptable", as he could convince neither the government nor parliament to approve the PSC.

Under PSC, an operator gets a share of production or revenue in proportion to its investment. In a service contract, the Indian consortium would get a flat 15 per cent return on the investment for developing the field.

India had started work on floating a new government company to develop the field and keep out the existing contractor consortium of ONGC Videsh Ltd, Indian Oil Corp and Oil India Ltd to shield them from US sanctions.

The new regime has also reversed the offer of natural gas at a heavily discounted price of 84 cents per million BTUs for setting up a urea plant through Indian investment at Assaluyeh or Chahbahar.

Zangeneh now wants a product-linked gas price where Iran would calculate the price related to the international price of urea after taking into account investment, operation cost and expected returns.

Iran's new government scraps oil and gas connections to India - Indian Express

Seems like Iranian officials are frustrated by India, perhaps due to the fact that India heavily decreased their oil imports from Iran, and Iran finds it difficult to recollect their money from India.

I think now India should make a deal with Oman or Saudi Arabia and also with Qatar to buy LNG....

Why is India suffering and making its economy go slow... Buy LNG from Qatar and Oil from Saudis.......

 

[SAFIR]

I think now India should make a deal with Oman or Saudi Arabia and also with Qatar to buy LNG....

Why is India suffering and making its economy go slow... Buy LNG from Qatar and Oil from Saudis.......

No problem

 

[naveen mishra]

No problem

nothing is wrong , every country has right to see their benefit first .....after all it is matter of profit and loss...........
my company also prefer to do 60% of total business in $

 

[SAFIR]

nothing is wrong , every country has right to see their benefit first .....after all it is matter of profit and loss...........
my company also prefer to do 60% of total business in $

As i said : No problem

 

[Sugarcane]

I think now India should make a deal with Oman or Saudi Arabia and also with Qatar to buy LNG....

Why is India suffering and making its economy go slow... Buy LNG from Qatar and Oil from Saudis.......

45% is still hell of benefit and these INR can't be spend anywhere else except buying Indian products. I don't think baniya will let go this benefit.

 

[Pakistanisage]

We owe you one for this Iran.

I seriously doubt we enter into this Equation. Iranian Indian Calculas has dynamics of its own.

But this is something that I have been predicting about Iranian Indian " Marriage of Convenience " for a long time.

Both sides detest each other but deal purely on the basis self interest. Ask yourself what Islamic Mullahs and Hindu idol and Cow worshippers have in common. Zero Zilch Nada Nothing.

This is what happens to " UNNATURAL RELATIONSHIPS". Outside of Financial Relationship there is nothing to hold these two Nations together. Most of all because of Mutual distrust and hatred , hearts are very unforgiving and any time things don't work out, the relationship is fractured.

Pakistan and Iran on the other hand are Natural Allies because of Historical, Cultural and Religious ties and even when these two nations disagree it is quite often tempered by love and affection.

 

[W.11]

Better to Remain Silent and Be Thought a Fool than to Speak and Remove All Doubt......Abraham Lincoln

yeah moronic reply to moronic post

 

[karan.1970]

yeah moronic reply to moronic post

Are you calling your post moronic ?

 

[[Bregs]]

what ever be the reason for the decision its shot term loss to India and long term to Iran

 

[Surenas]

what ever be the reason for the decision its shot term loss to India and long term to Iran

Not really. Once Iran get rids of all those sanctions, it is India that missed the opportunity to have greater energy relations with Iran.

 

[[Bregs]]

Not really. Once Iran get rids of all those sanctions, it is India that missed the opportunity to have greater energy relations with Iran.

Do you think sanctions against Iran going to lifted any time soon ? US, Israel, wet countries, KSA all are after it. this issue will be very amicably settled in coming few weeks and thread will be made here for that. Iran is facing some technical difficulties they needed to be sorted out under the shadow of tough sanctions being enforced on the issue which is not going to be solved in ages

 

[Surenas]

Do you think sanctions against Iran going to lifted any time soon ? US, Israel, wet countries, KSA all are after it. this issue will be very amicably settled in coming few weeks and thread will be made here for that. Iran is facing some technical difficulties they needed to be sorted out under the shadow of tough sanctions being enforced on the issue which is not going to be solved in ages

Rouhani is already on track to forge a deal between Iran and the US. I'll believe that within a couple of years, most important sanctions are removed. That would mean that Iran would refuse to accept rupees anymore, Iran would attract more investment in its gas/oil fields, India would lose its leverage over Iran, which it still has (but its slowly losing), and Iran could get access to the European market again.

India would probably lose its strategical relations with Iran as well, and that could have implications for India, especially for their access to Afghanistan and Central-Asia.

 

[EMERCOM]

what ever be the reason for the decision its shot term loss to India and long term to Iran

Considering that neighbors of india with exception of bhutan are not friendly ,I doubt. What the govt is doing for sake of USA is not good..

 

[[Bregs]]

Rouhani is already on track to forge a deal between Iran and the US. I'll believe that within a couple of years, most important sanctions are removed. That would mean that Iran would refuse to accept rupees anymore, Iran would attract more investment in its gas/oil fields, India would lose its leverage over Iran, which it still has (but its slowly losing), and Iran could get access to the European market again.

India would probably lose its strategical relations with Iran as well, and that could have implications for India, especially for their access to Afghanistan and Central-Asia.

your analysis is correct to greater extent but in Arab politics and Afghanistan, Iran too needs Indian support and vice versa