News ID: 210178
Published: 0331 GMT February 17, 2018

Indian firms seek stake in Iran's South Azadegan field

Indian firms seek stake in Iran's South Azadegan field

India's Oil Minister Dharmendra Pradhan said on Saturday that Indian companies seek a stake in Iran's South Azadegan field.

Pradhan told a conference in New Delhi, which was also attended by his Iranian counterpart Bijan Namdar Zanganeh, that Indian firms would raise oil purchases from Iran in 2018-19, Reuters reported.

Zanganeh said Iran hoped to continue to export 2.1 to 2.2 million barrels per day beginning around April and to sell 500,000 bpd to India in the next fiscal year.

India shipped in 10.7 percent less oil from Iran in January than a year earlier, ship-tracking data from sources and data compiled by Thomson Reuters Oil Research and Forecasts showed.

India imported about 495,000 barrels per day (bpd) of oil from Iran in January — a decline of about 3.4 percent from the previous month, the data showed.

India's overall oil imports in January rose 13.6 percent from a year earlier to 4.9 million bpd.

   
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