India's largest importer of Iranian oil, the State-run Mangalore Refinery and Petrochemicals (MRPL), plans to halve daily imports from Iran, Reuters quoting industry sources reported today.
MRPL imports over 150,000 bpd, but plans to reduce imports to 80,000 bpd starting 1 April. India's other state-run oil company, Hindustan Petroleum Corp, has also announced it would cut its annual imports of Iranian crude by about 15 percent to 60,000 bpd.
In public, New Delhi says it will not comply with the sanctions. But behind the scenes, sources at state-run refineries say the government has instructed them to cut imports, Reuters reported.
Source: Reuters, 5 March 2012