PNN – India, which sourced about a third of its imported liquefied natural gas from the United States during the war, is now planning to increase its purchases of oil and gas from Iran.
According to the report of Pakistan News Network; Reuters reported that Indian refineries have received offers to purchase Iranian oil, and Tehran intends to capitalize on the opportunity to maximize its oil sales. India’s energy supply chain was disrupted by the closure of the Strait of Hormuz.
With a 30-day waiver from the US, India resumed oil purchases from Iran after seven years. Iran’s share of India’s liquefied natural gas rose from 1.6 to 6.5 percent, with 73,000 barrels of oil entering the country daily. During the Iranian oil minister’s visit to New Delhi last week, the issue of Iranian oil and gas supplies to India was discussed, and it was noted that Iranian liquefied natural gas imports through traders may increase.
Reuters continued that the National Iranian Oil Company has entered into negotiations with Indian refineries through brokers and intermediaries based in Singapore and Dubai. A source familiar with the Indian refining industry told Reuters: In addition to the National Iranian Oil Company, many traders have also contacted us to sell Iranian oil, but our priority is to give the National Iranian Oil Company a chance.