India To Import 15.5 Million Tons Crude Oil From Iran This Fiscal Year -Junior Oil Minister
May 15 2012 - 3:38AM
Dow Jones News
Indian refiners have targeted to import about 15.5 million
metric tons of crude oil from Iran in the financial year that began
April 1, the country's junior oil minister said Tuesday.
Replying to a query by a lawmaker in the upper house of
parliament, R.P.N. Singh said this year's target will be lower than
the 17.44 million tons purchased by India in the last financial
year and 18.50 million tons the year before.
"The quantum of crude oil imported by Indian refineries from
various sources is decided by them on the basis of technical,
commercial and other considerations," Singh said.
"In order to reduce its dependence on any particular region of
the world, India has been consciously trying to diversify its
sources of crude oil imports to strengthen the country's energy
security," he added.
-By Santanu Choudhury, Dow Jones Newswires; +91-11-4356-3305;
santanu.choudhury@dowjones.com
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