India Delays May Order for Iran Oil: Report
TEHRAN (Tasnim) – Indian refiners are holding back from ordering Iranian oil for loading in May pending clarity on whether Washington will extend a waiver from US sanctions against the OPEC-member, four sources said.
India hopes to get clarity in seven to 10 days on any extension of the waiver, as well as the amount of oil that could be purchased if an extension is given, the sources said, according to Reuters.
“We don’t know about US thinking, whether they will allow India to buy oil or not,” said one of the sources, all of whom declined to be named due to the sensitivity of the issue.
Under the current waiver, India can buy about 300,000 bpd of Iranian oil - about half the amount before the sanctions were imposed - and New Delhi wants to keep buying Iranian oil at that level, Indian sources said last month.
Since November only state-run Indian Oil Corp, Bharat Petroleum Corp, Hindustan Petroleum and Mangalore Refinery and Petrochemicals have been buying Iranian oil.
State-refiners and oil ministry did not respond to request for comments.
In November, US President Donald Trump withdrew from the 2015 nuclear deal between Tehran and world powers and re-imposed economic sanctions.
Washington, however, gave a six-month waiver to eight nations including India, allowing them to import Iranian oil until early May.
