India's oil imports from Iran fell by 57% in April

NEW DELHI: India Import Of Oil From Iran, About 57 Percent On An Annual Basis Fell In April, According To Tanker Reuters Arrival Data, The Last Month In Which New Delhi May Load Iranian Oil Prior To US Sanctions Stopping Opec Member Oil Purchases.

India, Iran's Top Oil Client After China, Shipped In About 277,600 Barrels Per Day (bpd) Or Oil From Tehran In April, Down About 31.5 Per Cent From The Previous Month, Preliminary Tanker Showing Data From Shipping And Industry Sources.

The United States Introduced Sanctions In November But Gave A Six-month Waiver To Eight Nations, Including India, Which Allowed Them To Import Some Iranian Oil.

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India Was Allowed To Buy An Average Of 300,000 GDP Of Oil During November-April, But Actual Volumes Varied From Month To Month Due To Lack Of Ships After Foreign Shipping Lines Backed Out Of Iranian Deals Under Pressure From US Sanctions.

In April, Washington Asked Buyers Of Iranian Oil, Mostly In Asia, To Make Purchases Or Face Sanctions.

India Is Scheduled To Get Two Very Large Crude Carriers Carrying 4 Million Barrels Of Iranian Oil This Month - One Each At Paradise In The East And Kochi In The West. The Two Vessels Were Loaded In April.

Since November, When India Received The Sanctions Waiver, Only State-run Indian Oil Corp., Bharat Petroleum Corp., Hindustan Petroleum And Mangalore Refinery And Petrochemicals Have Been Buying Iranian Oil.

India's Overall Imports From Iran In January To April 2019 Fell Nearly 45 Per Cent To 304,500 Bps Compared To 552,000 Bps A Year Ago, The Data Showed.

The Sources Declined To Be Identified As They Were Not Authorized To Speak With Media.