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Iran was the second biggest oil supplier to Indian state refiners between April and June, India's oil minister said on Monday, replacing Saudi Arabia as companies took advantage of steeper discounts offered by Tehran. India, Iran's top oil client after China, shipped in 5.67 million tonnes, or about 457,000 barrels per day (bpd), of oil, from the country in the first three months of this fiscal year, Dharmendra Pradhan told lawmakers in a written reply.
He did not provide comparable numbers from the year-ago period. Data compiled by Reuters shows that India imported about 3.46 million tonnes, or about 279,000 bpd, from Iran between April and June last year. State refiners, accounting for about 60 percent of India's 5 million bpd refining capacity, had curbed imports from Iran last year in protest against Tehran's move to grant development rights for the giant Farzad B gas field to other parties.
The refiners - Indian Oil Corp, Chennai Petroleum Corp, Bharat Petroleum and its unit Bharat Oman Refineries Ltd, Hindustan Petroleum and Mangalore Refinery and Petrochemicals - shipped in 9.8 million tonnes of Iranian oil in 2017/18, about a quarter less than a year ago, Pradhan's reply showed.

Copyright Reuters, 2018

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