India Imported 4% Less Oil from Iran

India Imported 4% Less Oil from Iran

India imported about 552,200b/d of oil from Iran during September, a 4% drop from August volumes, when the country’s Iranian imports reached a 15-year high, reported Reuters.

The majority of Iranian oil went to state-run Mangalore Refinery and Petrochemicals Ltd. The facility imported about 150,200b/d of oil in September. Additionally, Essar Oil, Indian Oil Corp, Reliance Industries Ltd, and Hindustan Petroleum consecutively imported 134,000b/d, 131,000b/d, 69,000b/d, and 68,000 b/d of oil during the month, according Money Control News.

India, Iran’s top customer after China, imported an average of 411,900b/d of Iranian oil between January and September. This is a 90.5% growth.

The world’s third-biggest oil importer, India shipped in a record about 4.47mb/d oil in total during September, about 4.4% more than the previous month. The country enjoyed a long petroleum relation with Iran until sanctions pressured New Delhi to curb Iranian oil shipments, reducing Tehran’s overall share of India’s oil imports to 5.8% during two fiscal years starting April 2013, compared with about 11.3% before sanctions were imposed.


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