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Essar’s Oct. Iran Oil Imports Fall
Essar’s Oct. Iran Oil Imports Fall

Essar’s Oct. Iran Oil Imports Fall

Essar’s Oct. Iran Oil Imports Fall

Indian private refiner Essar Oil’s imports from Iran fell by about 27% in October from a year ago to about 183,000 barrels per day as the company diversifies its crude purchases, according to tanker arrival data obtained from trade sources and ship-tracking services on the Thomson Reuters terminal, Reuters reported. Russian oil major Rosneft and its partners, including global trader Trafigura and Russian fund UCP, in August closed a deal to acquire a 98.3% stake in Essar Oil for $12.9 billion, giving the consortium a foothold in Asia and securing a new outlet for its oil. Essar Oil’s imports from Iran in October were about 88% higher than the previous month, the data showed. During January to October, the refiner received about 20% less oil from Iran at about 140,000 bpd, the data showed.

 

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