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New Indian refinery needs Iranian oil

Oil&Gas Materials 30 July 2011 12:54
A newly established oil refinery in the north of India requires export of the Iranian oil, the Mehr News Agency reported quoting Managing Director of international affairs in National Iranian Oil Company Mohsen Ghamsari as saying.

Iran Azerbaijan, Baku, July 30 /Trend/

A newly established oil refinery in the north of India requires export of the Iranian oil, the Mehr News Agency reported quoting Managing Director of international affairs in National Iranian Oil Company Mohsen Ghamsari as saying.

"Due to availability of Iran's oil centers, India does not intend to halt oil import and the country's new refinery recently requested Iran's oil," he said.

Iran does not plan to halt oil export to India. However the two countries continue to negotiate to resolve the problem of money transfer, he added.

Earlier, Iran's oil export reduced by 90,000 bpd from July 23 due to technical problems in India's oil terminals and problems in auditing. The decline is not linked with the Iranian Oil Ministry's ultimatum to India over debts, the Iranian Oil Ministry reported.

Despite India's debt, Iran continues to export 400,000 barrels of oil per day worth $1 billion per month to India.

The Iranian Oil Ministry reported that the reduction will be temporary and the negotiations to solve the debt issue reached final agreements.

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