India to clear dues worth $6.5 bn to Iran in tranches: Govt

Last Updated: Monday, August 17, 2015, 18:37

India will clear USD 6.5 billion of dues it owes to Iran for oil import in tranches, with the first installment going out as early as in a week, Finance Secretary Rajiv Mehrishi has said.

RBI to facilitate oil payments of $6.5 billlion to Iran

Last Updated: Wednesday, August 5, 2015, 19:45

he Reserve Bank of India (RBI) will assist Indian refiners to clear over USD 6.5 billion of past dues they owe to Iran for crude oil purchases, a senior official said Wednesday.

Iran eyes $185 billion oil and gas projects after sanctions

Last Updated: Thursday, July 23, 2015, 18:07

Iran on Thursday outlined plans to rebuild its main industries and trade relationships following a nuclear agreement with world powers, saying it was targeting oil and gas projects worth $185 billion by 2020.

Iran's oil comeback may be later than sooner, but will still add to glut

Last Updated: Wednesday, July 15, 2015, 11:52

A day after an Iran nuclear deal was finally reached oil prices edge higher as investors recognised it would take time for Tehran to raise output, but the eventual increase in its exports will add fuel to a market already plentifully supplied.

OPEC agrees to keep pumping as oil glut fears persist

Last Updated: Friday, June 5, 2015, 19:13

Oil group OPEC agreed to stick by its policy of unconstrained output for another six months on Friday, setting aside warnings of a second lurch lower in prices as some members such as Iran look to ramp up exports.

India slashes Iran oil imports in January

Last Updated: Thursday, February 12, 2015, 16:18

India slashed imports of Iranian oil in January as New Delhi scrambled to bring its purchases from the OPEC member in line with 2013 levels, according to data obtained from trade sources and ship tracking data on the Thomson Reuters terminal.

India asks refiners to cut Iran oil imports ahead of Obama visit: Sources

Last Updated: Friday, January 23, 2015, 05:33

India has asked its refiners to slash oil buys from Iran in the next two months to keep the imports in line with the previous fiscal year`s levels, sources with knowledge of the matter said, days ahead of President Barack Obama`s visit to New Delhi.

India asks refiners to cut Iran oil imports ahead of Obama visit: Sources

Last Updated: Thursday, January 22, 2015, 21:59

India has asked its refiners to slash oil buys from Iran in the next two months to keep the imports in line with the previous fiscal year`s levels, sources with knowledge of the matter said, days ahead of President Barack Obama`s visit to New Delhi.

India asks refiners to cut Iran oil imports ahead of Obama visit: Sources

Last Updated: Thursday, January 22, 2015, 16:02

India has asked its refiners to slash oil buys from Iran in the next two months to keep the imports in line with the previous fiscal year`s levels, sources with knowledge of the matter said, days ahead of President Barack Obama`s visit to New Delhi.

India oil imports from Iran jump sharply in 2014

Last Updated: Friday, January 16, 2015, 11:20

The jump came with an end-of-the-year boost as imports in December surged 84 percent from a year ago to 348,400 barrels per day (bpd), the highest since March.

India takes nearly 40% less Iranian oil in 2013

Last Updated: Thursday, January 30, 2014, 15:40

India imported nearly 40 percent less Iranian crude last year, with no sign in the last month of 2013 that the easing of Western sanctions in a landmark deal resulted in Indian refiners bumping up their purchases.

Iran-India officials discuss oil trade issues

Last Updated: Tuesday, December 10, 2013, 18:44

Weeks after a historic accord eased restrictions on Iran, a high level Iranian delegation Tuesday discussed with Finance Ministry officials the payment mechanism and shipping arrangements for increased oil trade.