Iran main supplier of oil to India in October: Report

EghtesadOnline: Iran has become the top oil supplier to India in October 2016 and replaced Saudi Arabia, it was reported on Thursday.

News ID: ۷۷۱۵۰۱

20 November 2016

Latest shipping data of India showed that New Delhi oil improts from Iran 'surged more than threefold compared with the same month last year, rising to 7,89,000 barrels per day (bpd),' India local media said quoting a report compiled by Thomson Reuters Oil Research and Forecasts.

Before imposing of unfair economic sanctions, Iran was the second main supplier of oil to India, after Saudi Arabia. However, Tehran's oil exports to New Delhi have decreased during the unfair sanctions imposed on the copuntry by Western states for its peaceful nuclear activities, according to IRNA.

Following the removal of economic sanctions against Iran after the implementation of the Joint Conprehensive Plan of Action (JCPOA) between the country and world six major powers (US, Britain, Russia, France and China plus Germany) in January 2016, Tehran's oil exports to New Delhi has mad a dramatic growth, the report said.

It added that Saudi Arabia's oil exports to Inida stood at 6,97,000 bpd in October.