US Edition
India makes first Iranian oil buy in seven years with no payment problems
Indian refiners bought Iranian crude to secure supplies as U.S. sanctions were eased, and the ministry denied payment problems behind a tanker’s China diversion.
- On Saturday, April 4, the Ministry of Petroleum and Natural Gas confirmed Indian refiners resumed Iranian crude purchases, marking the first such imports since May 2019 to secure supplies amid Middle East conflict.
- The Ministry dismissed reports that the tanker Ping Shun diverted to China due to payment issues, stating that mid-voyage destination changes for trade optimization and operational flexibility are standard industry practice.
- Official statements refuted claims of payment hurdles for Iranian crude; Indian companies maintain full flexibility to source energy from over 40 countries based on commercial considerations.
- The gas carrier Sea Bird berthed at Mangalore on Thursday, April 2, and is currently discharging 44,000 tonnes of Iranian liquefied petroleum gas, confirming a parallel energy supply stream.
- Transit disruptions through the Strait of Hormuz due to the conflict in West Asia have forced India to adapt procurement strategy, aided by recent US sanctions waivers for Iranian oil.
33 Articles
33 Articles
India denies payment issues with Iran, says crude supplies fully secured
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‘Factually incorrect’: Centre on claims about Iran oil ship diverted to China over payment hurdles
The Union government on Saturday described as “factually incorrect” reports that an Iranian crude oil shipment had been diverted from India to China due to alleged payment issues, reiterating that the country’s crude oil requirements remain secure for the coming months.The clarification came after reports from earlier this week that a US-sanctioned tanker, Ping Shun, carrying Iranian crude and having crossed the Strait of Hormuz, altered its cou…
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