Indian companies to ship in Iranian oil in November

October 8, 2018 - 17:56

TEHRAN – India’s Oil Minister Dharmendra Pradhan said on Monday that two Indian companies have placed orders to buy Iranian oil in November, Reuters reported.

“India does not yet know if it will be granted a waiver from U.S. sanctions on Iran”, the official added.

India, the world’s third-biggest oil importer, will buy nine million barrels of Iranian oil in November, Reuters reported on Friday, citing two industry sources.

“Refiners have placed November nominations to lift 1.25 million tons (about 9 million barrels) of oil from Iran,” the Friday report said.

India was discussing its options to buy Iranian oil with all authorities, Pradhan said.

The United States plans to impose new sanctions targeting Iran’s oil sector on November 4.

A U.S. government official said the Trump administration is “in the midst of an internal process” of considering waivers for countries that are reducing imports of Iranian crude. The official spoke on the condition of anonymity.

U.S. Secretary of State Mike Pompeo said in India last month that the Trump administration would consider waivers for Iranian oil buyers such as India but they must eventually bring the imports to zero.


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