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Essar's Iran Oil Imports Rise 43%

Essar's Iran  Oil Imports Rise 43%  Essar's Iran  Oil Imports Rise 43%

Essar Oil, the top Indian buyer of Iranian crude, imported about 43.2% more oil from Iran in July compared with a year ago, according to tanker arrival data obtained from trade sources and ship-tracking services on the Thomson Reuters terminal. Essar shipped in about 186,000 barrels per day of oil from Iran last month, an increase of about 4.4% from June, the data showed. Essar's oil imports from Iran averaged about 158,800 bpd in the first seven months of 2016 compared with 103,700 bpd in the previous year, when the private refiner had to cut imports under pressure from international sanctions against Iran's nuclear program, the data showed. Iran's share in overall imports by Essar Oil in January-July rose to about 44% from about 30% in the year-ago period. India's July oil imports from Iran rose to their highest in at least five years, climbing to over 500,000 bpd for the second time in five months.

 

Financialtribune.com