India shifts oil imports from Middle East to Africa, North America due to OPEC cuts
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India shifts oil imports from Middle East to Africa, North America due to OPEC cutsBy Debjit Chakraborty, Saket Sundria, Bloomberg
Last Updated: Feb 15, 2021, 04:31 PM IST
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Middle East oil tends to yield more diesel, while crude from the North Sea, West Africa and US shale fields usually produce more LPG and gasoline. Crude imports from Nigeria in December jumped 68%, while U.S. oil purchases surged almost 77%.
Reuters
Spot crude imports into the world’s third-largest oil market will rise by 10 per cent to 15 per cent this year from 2020, according to industry consultant FGE.
Indian refiners would buy Iranian oil if sanctions eased- HPCL chief
Indian refiners would resume imports of Iranian oil if the United States eases sanctions against Tehran, the chairman of state-run Hindustan Petroleum Corp said on Thursday.
U.S. President Joe Biden’s administration is seeking a diplomatic solution to the nuclear dispute with Iran, which could see sanctions eased.
India, which was Iran’s top oil client after China, had stopped oil imports from the OPEC nation in mid-2019 under pressure from the stringent sanctions imposed by former U.S. President Donald Trump.
“Iranian crude had been in the (import) basket of Indian refineries … we will be happy to take that crude as and when the situation warrants and the crude is available,” M.K. Surana told a news conference.
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NEW DELHI Indian refiners would resume imports of Iranian oil if the United States eases sanctions against Tehran, the chairman of state-run Hindustan Petroleum Corp said on Thursday.
U.S. President Joe Biden’s administration is seeking a diplomatic solution to the nuclear dispute with Iran, which could see sanctions eased.
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India, which was Iran’s top oil client after China, had stopped oil imports from the OPEC nation in mid-2019 under pressure from the stringent sanctions imposed by former U.S. President Donald Trump.
Indian refiners would buy Iranian oil if sanctions eased
2/4/2021
Indian refiners would resume imports of Iranian oil if the United States eases sanctions against Tehran, the chairman of state-run Hindustan Petroleum Corp said.
U.S. President Joe Biden s administration is seeking a diplomatic solution to the nuclear dispute with Iran, which could see sanctions eased.
India, which was Iran s top oil client after China, had stopped oil imports from the OPEC nation in mid-2019 under pressure from the stringent sanctions imposed by former U.S. President Donald Trump. Iranian crude had been in the (import) basket of Indian refineries . we will be happy to take that crude as and when the situation warrants and the crude is available, M.K. Surana told a news conference.
India s January Diesel Sales Post Slowest Decline in Three Months: Preliminary Data
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India s diesel sales fell 2.3 per cent year-on-year in January, their slowest pace of decline in three months, preliminary data showed on Tuesday, indicating a gradual recovery in industrial growth in Asia s third-largest economy.
Local diesel sales by state-run refiners have been falling since March, when coronavirus-related restrictions slammed industrial activity and mobility. However demand for diesel saw a temporary year-on-year rise in October ahead of the country s festival season.
Diesel consumption, a key indicator of economic growth which accounts for about 40 per cent of overall refined fuel sales in India, totalled 6.04 million tonnes in January, the data compiled by state retailers showed.