India's Iran oil imports rise to five-year high in July

[Nilgiri]

http://economictimes.indiatimes.com...-in-july-tanker-data/articleshow/53709518.cms

NEW DELHI: India's July oil imports fromIran rose to their highest in at least five year, climbing to over 500,000 barrels per day (bpd) for the second time in five months, revised tanker arrival data obtained from trade sources show.

India, Iran's top oil client after China, shipped in about 523,000 bpd oil in July, an increase of 37 percent from June and more than double from a year ago, the data showed.

Iran used to be India's second-biggest oil supplier after Saudi Arabia until 2011, when New Delhi had to cut purchases from Tehran because of western sanctions.

India's oil imports from Iran have been consistently rising since the lifting of sanctions earlier this year.

In the first four months of this fiscal year, India's imports from Iran have climbed 48 percent more than a year ago to about 420,000 bpd, the data showed.

Last month two state refiners Hindustan PetroleumBSE 1.90 % and Bharat PetroleumBSE 2.78 % lifted oil from Tehran after a gap of years.

In July, Saudi continued to be the top oil supplier to India followed by Iraq, the data shows. Venezuela remained the third-biggest oil supplier.

The following table shows India's imports by country according to tanker arrival information. The imports include condensate. Volumes are in '000 bpd.

 

[war&peace]

What's so surprising? I don't think it qualifies as a news. After end of 5 yrs of sanctions, that's natural.

 

[SOHEIL]

 

[Arminkh]

What's so surprising? I don't think it qualifies as a news. After end of 5 yrs of sanctions, that's natural.

The point is that the residual effect of the sanctions are much more resilient than both sides thought. Originally, US and Iran thought that as soon as the sanctions are removed, money can flow as it was before the sanctions but it proved to be much harder than that.

We still have problem handling money flow through European banks as they don't dare to touch it after all the penalties they paid.

So the fact that Iran and India's trade has gone back to good days, means either Indians were more agile to adapt to new situation or that they never really implemented the sanctions to begin with. Both good news to me.

 

[[Bregs]]

Great news, we shall import more oil from Iran and shall also export some goods

 

[Arminkh]

Great news, we shall import more oil from Iran and shall also export some goods

Now that Brexit has happened, maybe it is time that TATA Motors, start a production line for Jaguars and Land Rovers in Iran. Iranians are crazy for luxury cars!

 

[Nilgiri]

Great news, we shall import more oil from Iran and shall also export some goods

Last year (2015), the total trade stood at 9.3 billion USD (India imported 6.2 billion USD and exported 3.1 billion USD w.r.t Iran).

I think it will increase nicely this year and continue on good trajectory for a long time.

 

[[Bregs]]

Now that Brexit has happened, maybe it is time that TATA Motors, start a production line for Jaguars and Land Rovers in Iran. Iranians are crazy for luxury cars!

sure why not Tata's can invest in many other sectors in Iran too. sanctions have just been lifted so many indian private cos will line up

 

[mohsen]

and no money in return.
fantastic!

 

[Nilgiri]

and no money in return.
fantastic!

The post sanction trade is paid for as regular commerce would be (since there are no more banking restrictions from the sanctions)

The unpaid dues are from the earlier time period and will be fully cleared this year.

 

[Śakra]

and no money in return.
fantastic!

Don't send us oil then. We have the liberty to pick and choose who we want to by oil from. irani oil is heavy sour it's a much lower quality than Arabian light.

 

[SOHEIL]

Don't send us oil then. We have the liberty to pick and choose who we want to by oil from. irani oil is heavy sour it's a much lower quality than Arabian light.

 

[Fafnir]

Don't send us oil then. We have the liberty to pick and choose who we want to by oil from. irani oil is heavy sour it's a much lower quality than Arabian light.

You were the ones who bought iranian oil and then claimed that because of "sanctions" you couldnt pay for it which of course was a complete and utter lie,so iran certainly didnt "send" you oil and if iranian oil is no good why is india buying more now,I`ll tell you why because iran is the only truly independent state and energy supplier in the pg the rest are nothing more than western vassals who would shut off that oil flow to india in an instant if the west told them too.Personally I think the minute the indians refused to pay iran should have cut them off,the indians could`ve easily done just what the us did recently and that was simply ship the money in bulk or pay for it in gold both easily done,personally I think india just took advantage of the situation just as russia did and they no doubt wanted to avoid displeasing their new best buds america and israel.I wouldnt trust india anymore than I`d trust russia,both of them have shown repeatedly that they are no friends or allies of iran and both of them have their tongues firmly up the wests/zionists arseholes.

 

[enquencher]

You were the ones who bought iranian oil and then claimed that because of "sanctions" you couldnt pay for it which of course was a complete and utter lie,so iran certainly didnt "send" you oil and if iranian oil is no good why is india buying more now,I`ll tell you why because iran is the only truly independent state and energy supplier in the pg the rest are nothing more than western vassals who would shut off that oil flow to india in an instant if the west told them too.Personally I think the minute the indians refused to pay iran should have cut them off,the indians could`ve easily done just what the us did recently and that was simply ship the money in bulk or pay for it in gold both easily done,personally I think india just took advantage of the situation just as russia did and they no doubt wanted to avoid displeasing their new best buds america and israel.I wouldnt trust india anymore than I`d trust russia,both of them have shown repeatedly that they are no friends or allies of iran and both of them have their tongues firmly up the wests/zionists arseholes.

Baby its milk time now..go have a nap now.
Get up read y india could not pay the amount to iran and then come and debate.if u still dont get it then go and watch pogo.

 

[Nilgiri]

Baby its milk time now..go have a nap now.
Get up read y india could not pay the amount to iran and then come and debate.if u still dont get it then go and watch pogo.