India’s July Iranian crude imports surge 21% to five-month high – Feedback

India’s July oil imports from Iran rose by over a fifth from June, surging to its highest level in five months as two state-run refiners resumed shipments from Tehran after a gap of years, preliminary tanker arrival data obtained by Reuters show.

Hindustan Petroleum Corp and Bharat Petroleum, India’s second- and third-biggest state-owned refiners respectively, halted Iranian oil imports after western sanctions against Tehran’s nuclear programme barred insurance cover for plants processing Iranian oil. India shipped in 461,000 barrels per day (bpd) of Iranian oil in July, nearly a 21 per cent increase from June and more than double than the about 215,000 bpd imported a year ago, tanker arrival data and ship-tracking services on the Thomson Reuters terminal show. India’s oil imports from Iran for the fiscal year that began in April are set to surge to a seven-year high, with the nation’s state-owned and private refiners together buying at least 400,000 bpd.

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