78211
India has been engaged in talks over developing gas liquefaction and export facilities south of Iran.
India has been engaged in talks over developing gas liquefaction and export facilities south of Iran.

Indian Firm Interested in Iran Crude Storage Venture

Indian Firm Interested in Iran Crude Storage Venture

A private Indian company is looking to invest in Iran's infrastructure for the storage of crude oil and byproducts.
India's IMC Group is interested in the construction and maintenance of depots for petroleum products at Iran's southern terminals in the Persian Gulf, the news portal of the National Iranian Oil Company reported on Monday.
Based in Chennai in eastern India, IMC is engaged in the development, construction, operation and management of port-based infrastructure projects. It is also a trader of agricultural products and fuels.
India has been engaged in talks over developing gas liquefaction and export facilities south of Iran to meet its demand at home. Iran exports all of its gas through pipelines, lacking the equipment to produce liquefied natural gas that is exported via tanker ships.
ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp, has offered to invest about $5.8 billion in developing the Farzad-B Gas Field in the Persian Gulf and another $5 billion to build a liquefied natural gas export facility.
But the investment plan is in doubt, as the two countries are at loggerheads over awarding the offshore Iranian gas project, with Indian refiners having cut back crude oil imports from Iran in retaliation. But the world's third biggest oil consumer continues to remain a key buyer of Iranian crude. India shipped in about 467,000 barrels a day of crude from Iran in October, second to China with 685,150 barrels.
Iran, the third-biggest producer of the Organization of Petroleum Exporting Countries, aims to build new oil storage and loading infrastructure along its southern coast. The bulk of Iran's crude exports are made from Kharg, an island terminal off the Persian Gulf.
Iran pumps close to 3.8 million barrels of crude oil and condensate, a type of ultra light crude, with export at more than 2.5 million bpd.

 

Short URL : https://goo.gl/E5sp1S
  1. https://goo.gl/6B2W7a
  • https://goo.gl/AYyzL7
  • https://goo.gl/N1ptzV
  • https://goo.gl/eQvCAx
  • https://goo.gl/uPCSJ4

You can also read ...

Venezuelan Refineries in Danger of Seizure
In 2007, following Venezuela’s expropriation of billions of...
China Tariffs to Darken Prospects of US LNG
This winter could be a bleak one for America’s natural gas...
Chevron to Develop Iraqi Oilfields
Iraq’s state-run Basra Oil Company and Chevron, an American...
Caspian Convention Can Help Boost Iran Oil, Gas Exports
The Convention on the Legal Status of the Caspian Sea will...
Spanish Esproenko to Continue Iran Business
Esproenko International, which specializes in oil and gas...
NIGC Export Capacity at 75 mcm Per Day
The National Iranian Gas Company’s capacity to export natural...
OPEC Should Remain Independent, Apolitical
Some members of the Organization of Petroleum Exporting...
Higher Electricity Tariffs Should Moderate Usage
Imposing higher tariffs on those who exceed fair consumption...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus