India Essar's July oil imports from Iran up 24% on month

EghtesadOnline: India increased imports of Iranian crude oil by 24 percent in July from the previous month.

News ID: ۷۷۸۸۵۸

30 August 2017

The Indian oil company Essar shipped in 152,000 barrels per day (bpd) of Iranian crude in July compared to 122,000 bpd in June, according to ISNA.

However, according to the tanker arrival data obtained from trade sources and ship-tracking services on the Thomson Reuters terminal, Essar Oil shipped in 18.3 percent less oil from Iran in July compared with a year ago, at about 152,000 bpd.

In the first seven months of the year, the refiner received 4.8 percent less oil from Tehran at about 151,300 bpd, the data showed.

Russian oil major Rosneft and partners closed a $12.9 billion purchase of Indian refiner Essar Oil on August 21, giving them a foothold in one of the world’s fastest growing oil users.

Essar Oil's new owners will settle over 2 billion euros ($2.4 billion) owed to Iran for past oil purchases.