INSUBCONTINENT EXCLUSIVE:
Oil refiners are planning to replace their spot purchases with Iranian oil in second half of the yearState-run Bharat Petroleum Corp could
annually take up to 2 million tonnes of Iranian oil if the OPEC member offers concessions to make its crude oil attractive compared to rival
grades, a company official said on Thursday
BPCL was annually taking 2 million tonne of Iranian crude oil on average when Tehran was not under United States sanctions."We have been
taking 2 million tonnes (per year) of Iranian crude oil, on an average, when things were normal
We will go back to that number ..
I won't be taking 6 million tonnes of Iranian oil ", said N
Vijayagopal, BPCL's head of finance.Vijayagopal, however, said purchases of Iranian oil depends its pricing compared to the similar rival
Iran was offering discounts on crude and shipping on oil sales to Indian refiners.India, the world's third largest oil consumer and
importer, halted oil imports from Tehran in 2019 as a temporary waiver granted to some countries expired
Former United States President Donald Trump abandoned the 2015 Iran nuclear deal in 2018 and reimposed sanctions.United States President
Joe Biden's administration and Iran have engaged in indirect talks to revive the pact for Tehran to curb its nuclear activities in
exchange for a lifting of sanctions
Iranian government spokesman Ali Rabiei said on Tuesday he was optimistic over Tehran reaching an agreement soon at talks with world powers
to revive a 2015 nuclear deal.Indian refiners are planning to replace some of their spot purchases with Iranian oil in second half of this
the remainder through long-term contracts
Vijaygopal also said that his company is operating its refineries at an average 86 per cent capacity as a second wave of COVID-19 has
curtailed local fuel demand.
