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Iran asks India for $1.5 billion in oil payments under nuclear deal: Sources

Last Updated: Thursday, February 13, 2014, 18:37

Iran has asked India for USD 1.5 billion in back oil payments under the nuclear deal that provides Tehran some relief from Western sanctions, Indian sources with direct knowledge of the matter said on Thursday.

India imports 6.74 million tons of oil from Iran

Last Updated: Friday, February 07, 2014, 16:47

India imported 6.74 million tonnes of crude oil from Iran during the first nine months of current fiscal, the Lok Sabha was informed Friday.

Oil prices down in Asian trade

Last Updated: Friday, January 17, 2014, 09:18

World oil prices eased in Asian trade today owing to supply concerns as non-OPEC members such as the United States ramp up production.

Brent drops towards $106 on Iran pact; US data eyed

Last Updated: Wednesday, January 15, 2014, 12:47

Brent crude edged down towards USD 106 a barrel on Wednesday as the prospect of a rise in Iranian oil exports weighed, while investors looked ahead to weekly oil inventories data from the United States to assess supply.

India may cut Iranian oil imports by 15% y/y in 2014/15

Last Updated: Tuesday, January 14, 2014, 16:30

India may cut Iranian oil imports by 15 percent in 2014/15 from the current fiscal year`s target, if western sanctions on Iran are not eased and the situation remains the same, a senior oil ministry official said on Tuesday.

OPEC pumped 29.72 million barrels per day of crude oil in Dec

Last Updated: Tuesday, January 14, 2014, 15:13

Oil production from the Organisation of the Petroleum Exporting Countries (OPEC) edged up by 20,000 barrels per day to 29.72 million b/d in December from 29.70 million b/d in November last year.

Brent slips towards $106 as supply outlook brightens

Last Updated: Tuesday, January 14, 2014, 09:30

Brent crude edged down towards $106 a barrel on Tuesday as Libyan supply picked up and as the restart of Iranian oil shipments appeared to get closer.

Six months relief for India, countries importing oil from Iran

Last Updated: Tuesday, January 14, 2014, 00:20

India and other major Iranian oil importing countries have got six months relief from reducing their import after the Islamic Republic agreed to curb parts of its disputed nuclear programme.

Tough for India & others to curtail oil imports from Iran: US

Last Updated: Wednesday, December 11, 2013, 17:20

India, China and other countries that have been cutting their oil imports from Iran have reached a point where it is "very very difficult" to reduce any further without seriously impacting their economies, US Secretary of State John Kerry has told lawmakers.

US exempts India, China from Iranian sanctions

Last Updated: Saturday, November 30, 2013, 09:10

The US on Friday exempted some countries, including India and China, from the tough Iranian sanctions act as they continue to reduce their dependence on Iranian oil.

Asia's Iran oil imports fall, may rise after nuclear deal

Last Updated: Friday, November 29, 2013, 14:01

In the first ten months, China's purchases from Iran were down 3.4 percent at 409,976 bpd.

Indian team to visit Iran to discuss oil payment mechanism

Last Updated: Wednesday, November 27, 2013, 18:41

India will shortly send a delegation to Iran to discuss oil payment mechanism after the historic accord between western super powers and the Persian Gulf state made it easier to import crude oil.