TEHRAN: Iran says that its crude oil exports to India have hit 700,000 bpd this month, with sales volume “unprecedented”, Iranian media report, quoting a statement by the Iranian oil ministry.
Last week, Reuters reported—citing shipping and industry sources data—that Indian crude oil imports from Iran dropped by 15.7 percent in the fiscal year 2017/18 ended March 31, compared to the previous fiscal year, after India’s state refiners cut supplies from Tehran over a disagreement between Iran and India about the awarding of the development of an Iranian natural gas field, which initially had to go to Indian companies.
According to data from Reuters sources, India’s crude oil imports from Iran were around 458,000 bpd in 2017/2018 fiscal year, compared to some 543,500 bpd in the previous fiscal period. State refiners cut imports from Iran by around 27 percent in 2017/2018, the data showed.
