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Indiareadytoclear$6.5billionofIran'soildues,seeksclarityonpaymentchannelTimesofIndia
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5/1/2016
Indiareadytoclear$6.5billionofIran'soildues,seeksclarityonpaymentchannelTimesofIndia
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5/1/2016
Indiareadytoclear$6.5billionofIran'soildues,seeksclarityonpaymentchannelTimesofIndia
The same was deterring New Delhi from claiming rights to invest nearly $7 billion in the biggest gas discovery ever made by an
Indian rm abroad.
But after the lifting of sanctions, India is making a renewed pitch for rights to develop 12.8 trillion cubic feet of gas reserves
OVL had found in 2008.
Pradhan also conveyed to the Iranian side that both countries must expand the basket of oil and gas trade.
He had also expressed India's interest in importing LPG from Iran and said companies from both sides could discuss setting up
of an extraction plant in Chabahar, if required.
India's total crude import in 2015-16 was around 184 million tonnes.
Iran had in November 2013 offered free delivery of crude oil to Indian reners as tough Western sanctions crippled its exports.
With shipping lines refusing to transport Iranian crude for fear of being sanctioned, Iran used its shipping line for the delivery
and did not charge for transportation.
http://timesofindia.indiatimes.com/business/indiabusiness/Indiareadytoclear65billionofIransoilduesseeksclarityonpaymentchannel/articleshowprint/52063669.cms
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