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04-12-2012, 10:22 PM #1
India replaces China as Iran's top oil client
India has vaulted to the top of the list of Iran's oil customers, overtaking China, in a first quarter buying surge ahead of tighter sanctions against Tehran this summer, data published by a leading industry consultant showed.
Direct imports to India from Iran were 433,000 barrels per day (bpd) in the first quarter compared with 256,000 bpd to China, according to data compiled by Geneva's Petrologistics and seen by Reuters via an industry source.
The Indian import figure was up by around 23 percent from the 351,0000 bpd imported over the same period of 2011 and significantly above the its 2011 average of 326,000 bpd.
Iran, like many oil exporters, does not publish its own oil sales data on a timely basis, but the Petrologistics figures add to signs that India has stepped up imports due to a cooling of relations between Tehran and Beijing over payment terms.
India is also widely seen to be raising imports ahead of tighter sanctions this summer when payments, insurance and supplies are expected to be more uncertain....being a human...
04-13-2012, 07:48 AM #2
thnx very good news for us
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