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Iran to export crude to India

 

 

TEHRAN: With Indians prepared to buy oil from nearby exporters, over a dozen loaded Irani super-tankers are ready to sell the same.

Post sanctions, Tehran plans to lift exports of crude by 500,000 barrels per day (bpd). It hopes to raise its exports to India by 200,000 bpd within six months.

Sources privy to the supply-related talks stated Iran (with the fourth biggest global oil reserves) wanted to target India as its principal importers.  

Indian refineries too are keen to buy Indian crude at right price as demand for oil is increasing.


Meanwhile, UN nuclear regulator is expected to confirm today it has curtailed its nuclear program, paving the way for the unfreezing of billions of dollars of assets and an end to bans that have crippled its oil exports.