NEW DELHI: India gets further supplies from different main oil producing nations to make amends for the loss of Iranian oil, petroleum and natural gasoline minister Dharmendra Pradhan mentioned on Tuesday.
The United States on Monday demanded that customers of Iranian oil prevent purchases by May 1 or face sanctions, ending six months of waivers which had allowed Iran's eight best consumers, most of them in Asia, to proceed to import limited volumes.
Pradhan mentioned on Twitter that India has put in position a robust plan for ok provide of crude oil to refineries.
"Indian refineries are fully prepared to meet the national demand for petrol, diesel and other petroleum products," he mentioned.
Reuters final week reported that Indian refiners are increasing their deliberate purchases from the international locations of the Organization of the Petroleum Exporting Countries (Opec), Mexico and the United States to hedge against loss of Iranian oil.
Refiners in India, the sector's third-biggest oil importer and Iran's best oil shopper after China, had almost halved their Iranian oil purchases since November when petroleum sanctions went into effect. At the time, the United States granted waivers from sanctions, referred to as important reduction exceptions (SRE), for 6 months to nations that bought some amounts of Iranian crude, together with India.
US President Donald Trump mentioned on Monday that Saudi Arabia and different OPEC international locations may "more than make up" for any drop in Iranian oil supplies to world markets now that the waivers are ended.
Saudi Arabia, the sector's best oil exporter, mentioned on Monday it could coordinate with different oil producers to ensure an ok crude provide and a balanced market.
The United States on Monday demanded that customers of Iranian oil prevent purchases by May 1 or face sanctions, ending six months of waivers which had allowed Iran's eight best consumers, most of them in Asia, to proceed to import limited volumes.
Pradhan mentioned on Twitter that India has put in position a robust plan for ok provide of crude oil to refineries.
"Indian refineries are fully prepared to meet the national demand for petrol, diesel and other petroleum products," he mentioned.
Govt has put in position a robust plan for ok provide of crude oil to Indian refineries.There might be further… https://t.co/g1iXpAjfIh
— Chowkidar Dharmendra Pradhan (@dpradhanbjp) 1555994460000Reuters final week reported that Indian refiners are increasing their deliberate purchases from the international locations of the Organization of the Petroleum Exporting Countries (Opec), Mexico and the United States to hedge against loss of Iranian oil.
Refiners in India, the sector's third-biggest oil importer and Iran's best oil shopper after China, had almost halved their Iranian oil purchases since November when petroleum sanctions went into effect. At the time, the United States granted waivers from sanctions, referred to as important reduction exceptions (SRE), for 6 months to nations that bought some amounts of Iranian crude, together with India.
US President Donald Trump mentioned on Monday that Saudi Arabia and different OPEC international locations may "more than make up" for any drop in Iranian oil supplies to world markets now that the waivers are ended.
Saudi Arabia, the sector's best oil exporter, mentioned on Monday it could coordinate with different oil producers to ensure an ok crude provide and a balanced market.
'India to get extra oil from major producers to make up for Iran oil loss'
!['India to get extra oil from major producers to make up for Iran oil loss']()
Reviewed by Kailash
on
April 23, 2019
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