1. Government refiners to buy less Iran oil in 2017/18: Oil minister Dharmendra Pradhan

Government refiners to buy less Iran oil in 2017/18: Oil minister Dharmendra Pradhan

India's state refiners plan to buy less Iranian oil in 2017/18 compared with the last fiscal year, Oil Minister Dharmendra Pradhan said on Wednesday.

By: | New Delhi | Published: July 19, 2017 7:07 PM
dharmendra pradhan, iran oil purchase, less iran oil purchase, iranian oil purchase this year, iranian oil purchase in 2017 Oil Minister Dharmendra Pradhan. (PTI)

India’s state refiners plan to buy less Iranian oil in 2017/18 compared with the last fiscal year, Oil Minister Dharmendra Pradhan said on Wednesday. Iran has offered a credit period of 60 days for oil purchases in the current fiscal year, Pradhan told lawmakers in a written response. In 2016/17, Iran had offered 90 days credit period. The minister said state oil refiners import oil as per commercial and operational consideration. He did not elaborate further. India’s state refiners have cut oil import plans from Iran by a quarter in the year to March 2018, sources earlier told Reuters.

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