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US sanctions broker, businesses for Iran oil smuggling
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Iran opens first oil terminal in Gulf of Oman to bypass Strait of Hormuz pressure points
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With Saudi acting pricey, India prepares to buy Iranian crude as soon as US sanctions ease
India imports more than 85% of its total oil needs. Getting access to Iranian crude would bring a number of benefits, including cheaper barrels and a longer credit cycle.
Debjit Chakraborty 8 April, 2021 3:57 pm IST Text Size:
A+
Mumbai: India’s state-run oil refiners are ready to snap up Iranian crude the moment U.S. sanctions are eased, according to a government official.
Refiners have started making preparations in advance of the possible removal of penalties so they can swiftly enter into contracts for Iranian supply, said a senior oil ministry representative, asking not to be named because they’re not authorized to speak to the media. This includes drafting commercial terms and putting in place mechanisms to quickly assess crude quality, the official said.
India Preparing to Buy Iranian Oil Once U.S. Sanctions Eased
Bloomberg 2 hrs ago Debjit Chakraborty © Bloomberg Gas flares burn from pipes aboard an offshore oil platform in the Persian Gulf s Salman Oil Field, operated by the National Iranian Offshore Oil Co., near Lavan island, Iran, on Thursday, Jan. 5. 2017. Nov. 5 is the day when sweeping U.S. sanctions on Irans energy and banking sectors go back into effect after Trumps decision in May to walk away from the six-nation deal with Iran that suspended them.
(Bloomberg) India’s state-run oil refiners are ready to snap up Iranian crude the moment U.S. sanctions are eased, according to a government official.
Iran to Attend OPEC+ Committee Meeting Next Month, Delegate Says
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