As reported by the Iranian Ministry of Petroleum, while international news agencies report on a decline in India’s oil purchase from Iran, statistics reveal that not only have volume of crude exports to the South Asian country not fallen but they have also followed an upward trend.
Indians bought 502,000 barrels of crude oil from Iran in July while the figure for the earlier month, June, had stood at only 83 thousand barrels.
A review of export figures to India since 2015 also indicates that, the Asian country’s imports from Iran have risen given that daily average export of the product to India for 2015 and 2016 was 189 and 451 thousand barrels, respectively.
In the first three quarters of 2017, a daily average of 438 thousand barrels were sent to India though the figure is likely to change over the remaining three months in the present year.
The number of Indian customers has climbed from previously three to seven firms, the most credible of which are Reliance Petroleum Limited and Essar Oil.
HA/4057689
Your Comment