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Iran oil News

18 May 2019

IOC ties up oil from US, Saudi to make up for Iran shortfall

Iran supplied more than a tenth of India's oil needs before the reimposition of US sanctions against the Persian Gulf nation stopped supplies this month.

09 Apr 2019

India delays May order for Iran oil, awaits clarity on sanctions: Report

Washington had given a six-month waiver to eight nations including India, allowing them to import some Iranian oil until early May.

08 Jan 2019

Iran hopes India will seeks another waiver from US sanctions

India in November last year won a six-month waiver to buy crude oil from Iran after it agreed to cut imports and escrow rupee payments.

01 Jan 2019

Govt exempts rupee payments for Iran oil from taxes

The finance ministry in a December 28, 2018 Gazette notification said the National Iranian Oil Company (NIOC) will not have to pay any withholding tax on payments it gets from Indian refiners.

05 Dec 2018

If we can't export oil from Gulf, no one can: Iran president Hassan Rouhani

"If one day they want to prevent the export of Iran`s oil, then no oil will be exported from the Persian Gulf."

11 Nov 2018

Iran sells more oil to private exporters to bypass US curbs

Iran sold 700,000 barrels of crude oil to private companies for export on Sunday in a second round of sales aimed at countering US sanctions on the country`s exports, oil ministry news website SHANA reported.

09 Nov 2018

Looking at details of exemption from US to buy Iran oil: MEA

India is one of seven countries that the Donald Trump administration has exempted from its 'no buying oil from Iran' diktat.

05 Nov 2018

India, China among 8 countries 'temporarily allowed' to buy oil from Iran: US

Pompeo vowed that the US will be "relentless" in pressuring Iran as he announced the list of the countries temporarily exempted from the US sanctions.

22 Oct 2018

Brent oil rises back above $80 as Iran sanctions loom

OPEC agreed in June to boost supply to make up for the expected disruption to Iranian exports.

15 Oct 2018

PM Modi urges oil producers to bring down oil rates to reasonable level

PM said crude oil prices at a four-year high was hurting global growth, causing inflation and upsetting budgets of developing countries like India.

15 Oct 2018

PM Modi to meet heads of oil companies as fuel prices continue to rise

The meeting will be held under the aegis of the NITI Aayog

12 Oct 2018

With deadline for Iran sanctions, top US envoy to visit India for talks on oil

Special Representative for Iran Brian Hook will be in the country this week to find alternatives once US sanctions against Iran come into effect.

05 Oct 2018

US says it's going extra mile to find substitute for Iranian oil for India

A large proportion of oil imported by India comes from Iran but following US sanctions on Tehran, this is expected to go down significantly.

14 Aug 2018

Wary of US sanctions, Iran offers oil to India at rates cheapest in 14 years

Reports suggest India imported a record 700,000 barrels from Iran each day.

27 Jul 2018

Iran extends shipping, insurance cover to keep oil flowing to India

Also, Iran is using its own ships to transport oil to India as not many shipping lines participated in recent tenders for transportation of Iranian oil.

India`s oil imports

15 Jun 2018

India`s oil imports from Iran to be hit as SBI to stop handling payments

Iran offers Indian refiners a 60-day credit period on oil sales, which means payment for cargoes loaded from end-August will be due in November.

India's oil imports

15 Feb 2017

Iran becomes 3rd largest oil supplier for India

Iran has zipped past the likes of Venezuela and Nigeria to become India's third largest oil supplier as easing western sanctions enabled Indian companies to increase purchases from that country.

06 Sep 2016

Iran supports 'any decision' to stabilise oil market: Minister

Tehran: Iran's oil minister said today that the Islamic republic supports "any decision" to stabilise the global oil market and that USD 50-60 per barrel is the desired price for most OPEC members.

03 May 2016

India to pay 1.5% interest on $6.5 billion Iran oil dues

India has agreed to pay Iran an interest of 1.5 percent on USD 6.5-billion that refiners like Essar Oil and Mangalore Refinery (MRPL) owe it in oil dues, as a 'goodwill gesture'.

14 Apr 2016

Iran ends free oil shipping to India, demands payment in Euros

Iran, no longer under sanctions, has ended free shipping of crude oil to India and has terminated a three-year old system of getting paid for half of the oil dues in rupees

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