thestringshredder
FULL MEMBER
- Joined
- Jun 24, 2012
- Messages
- 1,254
- Reaction score
- 1
- Country
- Location
NEW DELHI: Iran on Monday offered oilfields on lucrative terms, expressed willingness to route a gas pipeline through sea to avoid Pakistan and insurance to refiners to prod India into buying more oil from Teheran, but New Delhi did not bite.
Iranian oil minister Rostam Ghasemi made these offers as sweeteners at his meeting with his Indian counterpart M Veerappa Moily on Monday.
India has reduced its crude purchase from Iran to 13 million tonne in 2012-13 from 18 million tonne in the previous year on the face of the US and the EU sanctions which have blocked international gateways for payments.
The imports are slated to fall further this year to 11 million tonne, with Mangalore Refinery and Petrochemicals Ltd, which bought 3.9 million tonne of Iranian oil in 2012-13, not importing any shipload so far this fiscal.
Also, insurance companies, which are unable to get backup or reinsurance cover from European counterparts due to Western sanctions against Iran, have refused to provide cover to refineries using oil from the Persian Gulf nation.
During the talks, Iran offered insurance cover to refineries though Indian side was sceptical how such an arrangement could work in the absence of any financial intermediary.
Sources said Tehran was willing to re-route the Iran-Pakistan-India gas pipeline through an under-sea route to avoid going through Pakistan. New Delhi has refused to join the pipeline over concerns of safety of the line in Pakistan.
Alternatively, Iran offered to ship the gas in its liquid form (liquid gas) via Oman. It also offered a production sharing contract to ONGC Videsh Ltd for the Farzad-B gas field, which is estimated to hold 13 Trillion cubic feet of recoverable reserves three times the size of known reserves in Reliance Industries' KG-D6 block.
Link - Iran offers sweeteners to push more oil - The Times of India
Iranian oil minister Rostam Ghasemi made these offers as sweeteners at his meeting with his Indian counterpart M Veerappa Moily on Monday.
India has reduced its crude purchase from Iran to 13 million tonne in 2012-13 from 18 million tonne in the previous year on the face of the US and the EU sanctions which have blocked international gateways for payments.
The imports are slated to fall further this year to 11 million tonne, with Mangalore Refinery and Petrochemicals Ltd, which bought 3.9 million tonne of Iranian oil in 2012-13, not importing any shipload so far this fiscal.
Also, insurance companies, which are unable to get backup or reinsurance cover from European counterparts due to Western sanctions against Iran, have refused to provide cover to refineries using oil from the Persian Gulf nation.
During the talks, Iran offered insurance cover to refineries though Indian side was sceptical how such an arrangement could work in the absence of any financial intermediary.
Sources said Tehran was willing to re-route the Iran-Pakistan-India gas pipeline through an under-sea route to avoid going through Pakistan. New Delhi has refused to join the pipeline over concerns of safety of the line in Pakistan.
Alternatively, Iran offered to ship the gas in its liquid form (liquid gas) via Oman. It also offered a production sharing contract to ONGC Videsh Ltd for the Farzad-B gas field, which is estimated to hold 13 Trillion cubic feet of recoverable reserves three times the size of known reserves in Reliance Industries' KG-D6 block.
Link - Iran offers sweeteners to push more oil - The Times of India
