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India seeks more oil from OPEC members except Iran

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India seeks more oil from OPEC members except Iran

Reuters - June 15, 2012
Seeks more time from Iran on terms of contract on South Pars * Seeks swift deal on pricing for extra 3.5 mtpa LNG from Qatar (Adds details, quotes) NEW DELHI, June 14 (Reuters) - India is seeking extra oil supplies from OPEC members Saudi Arabia, Qatar and Algeria, as the country, already cutting its dependence on sanctions-hit Iran, works to secure additional barrels to feed its expanding refining capacity. India has sought an additional 100,000 barrels per day (bpd) of oil - equivalent to 5 million tonnes a year - from its biggest ...

 

India moves to start rupee payments for Iran oil

Reuters - June 14, 2012
Indian refiners aim to start payment at the earliest * Indian exporters hope to strengthen trade with Iran NEW DELHI, June 14 (Reuters) - India removed a hefty tax and took other steps to ease payments in its rupee currency for some imports of Iranian oil as it seeks to continue purchases - albeit reduced -- in face of Western sanctions that blocked an earlier payment method. India, Iran's second-biggest oil client, won a waiver this month from tough new U.S. sanctions in return for significantly cutting purchases of Iranian oil. After ...

 

India exempts rupee payment for Iran oil from hefty tax: Sources

India Times - June 14, 2012
Advertisement/ NEW DELHI: The Indian government formally lifted a hefty tax on payments to (NIOC) for settling part of its oil purchases in Indian rupees, two sources at Indian refiners said. India's finance minister in March proposed to exempt oil payments to Iran in from a 40 percent tax in order to smooth payments which ...

 

India moves to start rupee payments for Iran oil

Tehran Times - June 15, 2012
India removed a hefty tax and took other steps to ease payments in its rupee currency for some imports of Iranian oil as it seeks to continue purchases in face of Western sanctions that blocked an earlier payment method./ India, Iran's second-biggest oil client, won a waiver this month from tough new U.S. sanctions./ After earlier Western measures directed against Iran's nuclear program hit the then existing payment conduit in December 2010, India has been using Turkey's Halkbank for its $10 billion plus annual oil import bill with Tehran./ ...

 



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