Iran oil

IOC ties up oil from US, Saudi to make up for Iran shortfall

Iran supplied more than a tenth of India's oil needs before the reimposition of US sanctions against the Persian Gulf nation stopped supplies this month.

May 18, 2019, 18:08 PM IST

India delays May order for Iran oil, awaits clarity on sanctions waiver: Report

Washington had given a six-month waiver to eight nations including India, allowing them to import some Iranian oil until early May.

Apr 09, 2019, 17:19 PM IST

Iran hopes India will seeks another waiver from US sanctions

India in November last year won a six-month waiver to buy crude oil from Iran after it agreed to cut imports and escrow rupee payments.

Jan 08, 2019, 17:19 PM IST

Govt exempts rupee payments for Iran oil from taxes

The finance ministry in a December 28, 2018 Gazette notification said the National Iranian Oil Company (NIOC) will not have to pay any withholding tax on payments it gets from Indian refiners.

Jan 01, 2019, 16:48 PM IST

If we can't export oil from Gulf, no one can: Iran president Hassan Rouhani

"If one day they want to prevent the export of Iran`s oil, then no oil will be exported from the Persian Gulf."

Dec 05, 2018, 08:00 AM IST

Iran sells more oil to private exporters to bypass US curbs

Iran sold 700,000 barrels of crude oil to private companies for export on Sunday in a second round of sales aimed at countering US sanctions on the country`s exports, oil ministry news website SHANA reported.

Nov 11, 2018, 19:51 PM IST

Looking at details of exemption from US to buy Iran oil: MEA

India is one of seven countries that the Donald Trump administration has exempted from its 'no buying oil from Iran' diktat.

Nov 09, 2018, 15:48 PM IST

India, China among 8 countries 'temporarily allowed' to buy oil from Iran, says US

Pompeo vowed that the US will be "relentless" in pressuring Iran as he announced the list of the countries temporarily exempted from the US sanctions.

Nov 05, 2018, 20:12 PM IST

Brent oil rises back above $80 as Iran sanctions loom

OPEC agreed in June to boost supply to make up for the expected disruption to Iranian exports.

Oct 22, 2018, 12:30 PM IST

PM Narendra Modi urges oil producers to bring down oil rates to reasonable levels

PM said crude oil prices at a four-year high was hurting global growth, causing inflation and upsetting budgets of developing countries like India.

Oct 15, 2018, 17:02 PM IST

PM Narendra Modi to meet CEOs of global oil companies as fuel prices continue to rise

The meeting will be held under the aegis of the NITI Aayog

Oct 15, 2018, 08:04 AM IST

With deadline for Iran sanctions looming, top US envoy to visit India for talks on oil

Special Representative for Iran Brian Hook will be in the country this week to find alternatives once US sanctions against Iran come into effect.

Oct 12, 2018, 08:13 AM IST

US says it's going extra mile to find substitute for Iranian oil for India

A large proportion of oil imported by India comes from Iran but following US sanctions on Tehran, this is expected to go down significantly.

Oct 05, 2018, 06:17 AM IST

Wary of US sanctions, Iran offers oil to India at rates cheapest in 14 years

Reports suggest India imported a record 700,000 barrels from Iran each day.

Aug 14, 2018, 21:28 PM IST

Iran extends shipping, insurance cover to keep oil flowing to India

Also, Iran is using its own ships to transport oil to India as not many shipping lines participated in recent tenders for transportation of Iranian oil.

Jul 27, 2018, 14:47 PM IST

SBI to stop handling Iran oil payments: IOC

Iran offers Indian refiners a 60-day credit period on oil sales, which means payment for cargoes loaded from end-August will be due in November.

Jun 15, 2018, 13:03 PM IST

Iran becomes 3rd largest oil supplier for India

Iran has zipped past the likes of Venezuela and Nigeria to become India's third largest oil supplier as easing western sanctions enabled Indian companies to increase purchases from that country.

Feb 15, 2017, 19:15 PM IST

Iran supports 'any decision' to stabilise oil market: Minister

Tehran: Iran's oil minister said today that the Islamic republic supports "any decision" to stabilise the global oil market and that USD 50-60 per barrel is the desired price for most OPEC members.

Sep 06, 2016, 16:23 PM IST

India to pay 1.5% interest on $6.5 billion Iran oil dues

India has agreed to pay Iran an interest of 1.5 percent on USD 6.5-billion that refiners like Essar Oil and Mangalore Refinery (MRPL) owe it in oil dues, as a 'goodwill gesture'.


May 03, 2016, 16:03 PM IST

Iran ends free oil shipping to India, demands payment in Euros

Iran, no longer under sanctions, has ended free shipping of crude oil to India and has terminated a three-year old system of getting paid for half of the oil dues in rupees

Apr 14, 2016, 15:52 PM IST