Petrol and diesel may be expensive due to Import of crude oil from Iran is to be closed from November
Thursday - September 27, 2018 2:25 pm ,
Category : WTN SPECIAL
India's dependency to be increased on crude oil after US ban on Iran
Iran, afraid of US sanctions, can give huge discounts on crude oil
SEP 27 (WTN) - As you know, American restrictions on Iran will begin in November. Vigilant India has sharpened its preparations according to these restrictions. According to information from the media, India is considering not buying crude oil from Iran in November. If this happens then a big customer of Iran's crude oil would be reduced.
According to information received from the media, Indian Oil Companies, like Bharat Petroleum Corporation and Indian Oil Corporation have not yet ordered the consignment of oil from Iran in November. According to sources, Mangalore Refinery and Petrochemical is also planning to do something similar for the month of November.
For your information let you know that order for November consignment can be booked by the beginning of October, so that companies may change their views. It is feared that due to the US ban on oil imports from Iran in November, Brent crude prices could go up by more than $ 80. If this happens then the prices of petrol and diesel would increase in India.
For your information let you know that after China, India is Iran's second largest oil importer. At the same time, due to the decline in exports from Iran's crude oil, Brent crude has crossed the $ 80 level, reaching the highest level of four years. Not only India but South Korea, Japan and European countries are also going to stop oil imports from Iran.
Iran is worried after the US sanctions, now it is planning a new bet. According to information from the media, Iran is looking at Asia with great hope because of sanctions. Iran is thinking of giving a huge discount on the price of oil to other Asian countries, including India, to improve its economic condition.
Iran has tough competition with Saudi Arabia directly in import of crude oil. According to sources, Iran's national Iranian oil company can reduce its prices significantly for sales. It is being said that this discounts can be the biggest discount in the last 14 years. Well, this is just news. It has not been confirmed yet.
Well, if India stops importing oil from Iran, then the prices of petrol and diesel can be increased in India. It is said that after November, petrol in India could reach Rs 100 per liter. After the US ban on Iran, India will have to import crude oil from countries such as Saudi Arabia, UAE, Qatar, Kuwait and Iraq.
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SEP 27 (WTN) - As you know, American restrictions on Iran will begin in November. Vigilant India has sharpened its preparations according to these restrictions. According to information from the media, India is considering not buying crude oil from Iran in November. If this happens then a big customer of Iran's crude oil would be reduced.
According to information received from the media, Indian Oil Companies, like Bharat Petroleum Corporation and Indian Oil Corporation have not yet ordered the consignment of oil from Iran in November. According to sources, Mangalore Refinery and Petrochemical is also planning to do something similar for the month of November.
For your information let you know that order for November consignment can be booked by the beginning of October, so that companies may change their views. It is feared that due to the US ban on oil imports from Iran in November, Brent crude prices could go up by more than $ 80. If this happens then the prices of petrol and diesel would increase in India.
For your information let you know that after China, India is Iran's second largest oil importer. At the same time, due to the decline in exports from Iran's crude oil, Brent crude has crossed the $ 80 level, reaching the highest level of four years. Not only India but South Korea, Japan and European countries are also going to stop oil imports from Iran.
Iran is worried after the US sanctions, now it is planning a new bet. According to information from the media, Iran is looking at Asia with great hope because of sanctions. Iran is thinking of giving a huge discount on the price of oil to other Asian countries, including India, to improve its economic condition.
Iran has tough competition with Saudi Arabia directly in import of crude oil. According to sources, Iran's national Iranian oil company can reduce its prices significantly for sales. It is being said that this discounts can be the biggest discount in the last 14 years. Well, this is just news. It has not been confirmed yet.
Well, if India stops importing oil from Iran, then the prices of petrol and diesel can be increased in India. It is said that after November, petrol in India could reach Rs 100 per liter. After the US ban on Iran, India will have to import crude oil from countries such as Saudi Arabia, UAE, Qatar, Kuwait and Iraq.
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