Iran becomes India's No. 2 oil supplier, ahead of Saudi Arabia
Updated : July 24, 2018 07:03 AM IST
India, Iran's top oil client after China, shipped in 5.67 million tonnes or about 457,000 barrels per day (bpd) of oil from the country in the first three months of this fiscal year.
State refiners, accounting for about 60 percent of India's 5 million bpd refining capacity, had curbed imports from Iran last year in protest against Tehran's move to grant development rights for the giant Farzad B gas field to other parties.
The refiners, Indian Oil Corp, Chennai Petroleum Corp, Bharat Petroleum and its unit Bharat Oman Refineries Ltd, Hindustan Petroleum and Mangalore Refinery and Petrochemicals, shipped in 9.8 million tonnes of Iranian oil in 2017/18, about a quarter less than a year ago.
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