India Essar's Oil Imports from Iran Jump Sharply

MarineLink.com
Tuesday, February 25, 2014

By Nidhi Verma, Reuters

Essar Oil, a key buyer of Iranian oil, in January sharply raised imports from the Islamic state and also became the first Indian refiner to ship in the Brazilian heavy grade Polvo, tanker arrival data showed.

India's oil imports from Iran more than doubled in January from a month earlier after sanctions on Tehran were eased due to an interim deal on its nuclear program.

Essar received 141,900 barrels per day (bpd) of oil from Iran last month, up from 54,200 bpd in December, according to the data obtained by Reuters. Shipments last month were about 31 percent higher than a year ago.

Essar officials declined to comment.

During the first 10 months of the fiscal year ending March 31, Essar imported 91,500 bpd oil, a decline of about 6 percent from the same period the year before, the data showed.

Essar purchased Polvo from Brazil as it has been testing new heavy grades to improve refining margins.

In the December quarter, Essar met as much as 98 percent of its oil needs through heavy and ultra heavy grades, it said in a statement earlier this month.

Essar's total crude imports in January rose 81.5 percent from a low base in December, when it drew from inventory and cut purchases.

Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

US Senate Energy Panel Votes to Lift Oil Export Ban

The U.S. Senate Energy Committee on Thursday passed a bill that would lift a decades-old ban on the export of crude oil.   The 22-member panel passed the bill

ClassNK Releases Guidelines for CNG Carriers

Classification society ClassNK has released its Guidelines for Compressed Natural Gas (CNG) Carriers.   Global economic and population growth is bringing about

Eni Mulls Mozambique LNG Supply Deal

Italian oil and gas group Eni is holding discussions with a potential buyer of liquefied natural gas (LNG) supply from its floating export project in Mozambique, an executive said on Thursday.

Energy

U.S. Drillers Add Rigs Despite Crude Collapse

U.S. energy firms added 5 oil rigs this week after putting 21 rigs into service last week, the most in over a year, despite a collapse in U.S. crude prices from recent highs in June,

West Africa's August Crude Exports to Asia to Slip

West African crude oil exports to Asia were expected to fall to 1.84 million barrels per day (bpd) in August, Reuters data and a survey of traders showed.     Slower

South China Sea Hotline in the Works

China and Southeast Asian nations have agreed to set up a foreign ministers' hotline to tackle emergencies in the disputed South China Sea, a senior official of

Logistics

U.S. Drillers Add Rigs Despite Crude Collapse

U.S. energy firms added 5 oil rigs this week after putting 21 rigs into service last week, the most in over a year, despite a collapse in U.S. crude prices from recent highs in June,

West Africa's August Crude Exports to Asia to Slip

West African crude oil exports to Asia were expected to fall to 1.84 million barrels per day (bpd) in August, Reuters data and a survey of traders showed.     Slower

South China Sea Hotline in the Works

China and Southeast Asian nations have agreed to set up a foreign ministers' hotline to tackle emergencies in the disputed South China Sea, a senior official of

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Port Authority Salvage Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1075 sec (9 req/sec)