India Essar cuts Feb Iran oil imports by 14pct vs Jan

India Essar cuts Feb Iran oil imports by 14pct vs Jan - Trade

Reuters reported that Essar Oil, a key Indian buyer of Iranian crude, imported about 13.8% less oil from the OPEC member in February compared with the previous month.

Essar's overall shipments from Tehran in the first 11 months of the contract year beginning April 1st 2013 totalled 94,100 barrels per day, marginally lower than the year earlier.

India, Iran's top client after China, imported about 36% less oil from Tehran in February than in January because of efforts to meet US requests to restrict purchases from Tehran to 195,000 barrels per day in the 6 months to July 20.

Government sources said earlier this week that billionaire Ruias promoted Essar Group, which also operates steel plants in Canada and the United States, could lift 30% more Iranian oil than the contracted volumes of 80,000 barrel per day for this fiscal year.

Sandip Ginodia , Director

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