RSS   Newsletter   Contact   Advertise with us

Iran wants 10m liters of premium gasoline from India every day

Staff writer ▼ | September 20, 2013
Iran plans to import between 8 and 10 million liters of premium gasoline from India per day, the Fars News Agency reported.
Iran oil India
Iran oil IndiaIran plans to import between 8 and 10 million liters of premium gasoline from India per day, the Fars News Agency reported.


The imported gasoline with be mixed with domestic to increase its octane number.

Iran will import premium gasoline from India and export crude oil to India which is increasing imports of crude oil from Iran as policy makers risk flouting U.S. trade sanctions in their scramble to halt the slump in the rupee.

Mangalore Refinery & Petrochemicals (MRPL), India's biggest buyer of Iranian crude, plans to buy five cargoes of 85,000 metric tons each this month, compared with three in August, Managing Director P.P. Upadhya said. Shipments from the world's only producer that accepts rupee payments for oil are estimated to rise to 4 million tons in the year ending March 31, versus 3.9 million tons in the previous 12 months.

India is among a few countries eligible for a waiver of a U.S. law that imposes financial sanctions unless they can show they have "significantly reduced" purchases from the Persian Gulf country. Prime Minister Manmohan Singh is seeking options to revive the $1.8 trillion economy, which relies on imports to meet 80 percent of its energy needs, as he struggles to stem capital outflows that have weakened the rupee by 17 percent this year against the dollar.


 

MORE INSIDE POST