Iran today offered oilfields on lucrative terms, routing gas pipeline directly through sea to avoid Pakistan, and insurance to refiners provided New Delhi raised its import of Iranian oil, India’s Deccan Herald reported. The offers came after India sharply cut its oil imports form Iran under pressure from the Western sanctions.
Iranian Oil Minister Rostam Qasemi headed a high-ranking delegation to New Delhi to persuade the Indians to increase their imports, cut to 13.3 million tons in 2012-13 from 18 million tons in the previous year. This year the imports are expected to further fall to around 11 million tons, with Mangalore Refinery and Petrochemicals Ltd (MRPL), the country’s largest importers of Iranian crude not purchasing any so far this fiscal year that began on 21 March. (Deccan Herald, 28 May)
Photo credit: Iranian Oil Minister Rostam Qasemi talking to press. New Delhi, 27 May 2013. (IRNA)