Moody's says imposition of Iran sanctions is credit negative for Indian refiners
Updated : September 27, 2018 01:12 PM IST
The exposure of the Indian refiners to oil price volatility is likely to increase if at all they turn to the spot market, Moody's said.
On the business of the Indian oil refiners, Moody's estimated that the total decline in earnings for the refiners will be by around $400-$500 million.
During the April-August period this year, the oil refiners sourced around 14 percent from Iran out of the total 80 percent crude feedstock from other countries.