Jan 8, 2019, 8:48 AM
News Code: 83162731
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Indian oil firm to resume Iran oil purchase

Tehran, Jan 8, IRNA – The Indian state-run petroleum company 'Bharat Petroleum' (BPCL) which had stopped buying Iran oil for 3 months is supposed to resume its purchase, British media reported.

'State-run Bharat Petroleum Corp will import 1 million barrels of Iranian oil in February after a gap of three months, with the nation’s overall purchases from Tehran remaining at 9 million barrels,' Reuters quoted three informed sources as saying.

'BPCL and Hindustan Petroleum Corp will lift 1 million barrels each of Iranian crude oil in February,' the added.

US which claimed zeroing Iran oil exports, had to withdraw from its decision while imposing the second round of sanctions against Iran on November 4.

The US then granted India a six-month waiver from sanctions on Iran’s oil exports.

US President Trump announced on May 8, 2018 the withdrawal from the JCPOA, which was condemned by other parties to the 2015 agreement and their emphasis to stay in the landmark international deal.

The Iranian Foreign Minister Mohammad Javad Zarif heading a high-profile delegation is in India to attend annual international conference of the Raisina Dialogue.

Meeting Indian officials, participating in the joint trade conference between the two countries, attending and delivering a speech at the annual international conference of the Raisina Dialogue are on Zarif's itinerary.

The Raisina Dialogue is a multilateral conference held in New Delhi annually. Since its inception in 2016, the conference has emerged as India’s flagship conference on geopolitics and geo-economics. The conference is hosted by the Observer Research Foundation, an independent think tank, in collaboration with the Ministry of External Affairs of India.

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