The largest oil company of India expects to improve economic relations with Iran, namely the improvement of oil imports from the Islamic Republic. India resumed purchasing oil from Iran last month.
Organization Reliance Industries have imported about 90 600 barrels per day — these were the first supplies of oil over the last six years from Iran. Currently the company is negotiating about a larger number and volume of transactions with the prospect of long-term relations between the countries. This was stated by the financial Director of the company Venkatachari Srikant.
“We had certain commitments and agreements with Iran before him in the attitude the West has imposed sanctions. The proposals of the Islamic Republic in the oil issues are highly attractive to us, especially given the location in India”, said Srikant.
The desire of India to such international economic relations is easily explained, because the country wants to benefit from shorter delivery distance. And after the lifting of sanctions with Iran, for India this is very useful, because both countries are practically next door.
Indian crude oil imports from Iran increased by 135% compared with the same indicator in February, reaching a level of 500,000 barrels per day. It was an absolute record for India, which truly is a five-year high. Earlier, Essar Oil was the biggest oil importer, buying about 207 400 barrels per day. This company was Mangalore Refinery position 130 000 barrels per day. In third place was Petrochemicals Ltd. Indian Oil Corp, which imported 67 000 barrels per day from Iran.
India are currently considered the second largest importer of Iranian oil after China.
Oil Minister Bijan Zanganeh said that Iran was close to the level of export, which existed before the imposition of sanctions. “The level of oil production in Iran close to the indicator desanctions period. He was increased by one million barrels a day after the lifting of sanctions,” mentioned Bijan Zanganeh.
