Baku, Azerbaijan, Sept. 21
By Aygun Badalova – Trend
India will buy six million barrels of October-and November-loading crude oil from Iran to partly fill 11 million barrels of strategic storage in southern Mangalore, an Indian executive told International Oil Daily (IOD).
Indian Bharat Petroleum will buy four million barrels from Iran, according to the company's Director of Refineries R. Ramachandran.
Smaller peer Mangalore Refinery and Petrochemicals would purchase another two million barrels. The volumes will be bought on behalf of the federal government, he said.
Iran's August crude oil exports jumped 15 percent from July to more than 2 million barrels per day (bpd), Reuters reported Sep 16.
According to a source with knowledge of its tanker loading schedule, the volume is close to Tehran's pre-sanctions shipment levels in 2011.
Iran's August exports are the highest since January 2012, boosted by record purchases from the world's third-largest oil importer India.
Loadings headed for India reached a likely record of nearly 600,000 barrels per day last month, according to data stretching back at least 15 years, up 150,000 barrels per day from July.
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