Iran oil imports to fall 30% in 2011-12: Government
Friday, 13 January 2012
13 Jan 2012;economictimes.indiatimes.com:NEW DELHI: The government has not asked any refiner to cut imports of Iranian crude oil despite US sanctions but after the RBI barred payments through a regional clearinghouse a year ago, refiners themselves are gradually reducing such purchases, which are projected to fall 30% in 2011-12, government and industry officials said. "We have not asked companies to cut imports from Iran," said additional secretary oil ministry Sudhir Bhargava. India imports about $12 billion worth Iranian crude oil. Total imports are estimated to fall to 13 million tonnes in the current fiscal from 18.5 million tonnes in 2010-11 and 21.2 million tonnes in the previous year.
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