India: No deal to choose U.S. oil over Iran’sStaff Writer | September 11, 2018
India is clear that commercial considerations will drive its crude oil imports from the U.S. and that oil bought from Washington should not be seen as replacing Iranian petroleum, Hindu BusinessLine daily wrote.
Trade war India’s crude import needs will rise
Besides, the U.S. is working on improving the infrastructure for exporting oil and gas, said the official, adding that “once done the scope of scaling up imports will be higher”.
Asked if scaling up crude imports could mean replacing Iranian oil, the official told BusinessLine, “We are dealing with two issues separately and our stand has been communicated to the U.S.”
According to Vandana Hari, a Singapore-based oil market analyst, “India’s crude import needs will rise, with increasing refining capacity and fast-growing domestic consumption. The U.S. crude is an additional option for Indian refiners.” But a refiner needs to weigh the crude suitability, taking into account the cost and freight charges, she said. ■