Iran Loses Indian Oil Market to Iraq

Iran Loses Indian Oil Market to Iraq

India has reduced its imports of Iranian oil by 33%, while increasing its purchase of Iraqi oil. The decline makes Iran go from second to third biggest oil exporter to India, Al Arabiya reported.

India is currently aiming to boost its Iraqi oil imports and trying to invest in Iraqi energy sources. Accordingly, officials from the two nations have been discussing the mutual future plans, Albilad Press informed.

The move came after Iran rejected India’s request to invest in the Farzad B gas field.


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