We expect Indian refiners will either have to significantly reduce or completely stop importing crude oil from Iran over the next month or so.9 MT of crude, out of which about 14. Indian refiners will either have to significantly reduce or completely stop importing crude oil from Iran over the next month, increasing their dependence on other Middle Eastern suppliers like Saudi Arabia and Iraq, Moody's Investors Service said on Thursday.

US is working with countries that import Iranian oil to cut their purchases substantially.Iranian crude is usually sold at a discount of up to USD 2-4 per barrel to other Middle Eastern crude oil grades.4 million tonne (MT) of crude oil in 2017-18 fiscal, out of which about 9. New Delhi: Indian refiners will either have to significantly reduce or completely stop importing crude oil from Iran over the next month, increasing their dependence on other Middle Eastern suppliers like Saudi Arabia and Iraq, Moody&China building block flat twin screw barrels Suppliers39;s Investors Service said on Thursday." Iranian crude oil is imported into India by refiners including Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL), Hindustan Petroleum Corp Ltd (HPCL), Reliance Industries, Nayara # Energy and Mangalore Refinery and Petrochemicals Ltd (MRPL).

Thus we expect the impact on the refiners credit metrics to be limited.4 per cent was from Iran. It said India imported 220. Iran's national oil company, National Iranian Oil Company, also subsidises the freight costs for crude oil delivery and offers extended payment terms to buyers. Exports to India accounted for 21 per cent of Iran's crude oil outbound shipments in 2017-18 and 30 per cent from April to August 2018."The refiners' exposure to oil price volatility will also increase if they turn to the spot market," Moody's said.4 per cent was from Iran.During April-August 2018, India imported 94.US President Donald Trump earlier this week in a speech to the United Nation's General Assembly reiterated sanctions on Iranian oil exports will take effect on November 5 and that the US is working with countries that import Iranian oil to cut their purchases substantially. "As a result, Indian refiners will increase dependence on the remaining Middle Eastern crude oil suppliers (mainly Saudi Arabia and Iraq), aside from Iran," Moody's said."The sanctions on Iranian oil are credit negative for Indian refiners because their supplier concentration will increase after the sanctions take effect

Hide Comments | Add Comment