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India’s crude imports from Iran hit seven-month low in Oct

by ChemOrbis Editorial Team -
  • 06/11/2015 (05:26)
According to media reports, India’s crude oil imports from Iran plunged 41.5% in October from a year ago to reach 181,200 barrels of oil per day (bpd), the lowest levels seen since March. On a monthly basis, meanwhile, India’s oil imports from Iran declined 22.3%, according to data compiled by Thomson Reuters.

The decrease was mainly caused by Mangalore Refinery and Petrochemicals’ (MRPL) maintenance at its 300,000 bpd refinery in southern India. In mid-September, MRPL reportedly shut nearly 46% of its crude processing capacity for about a month for maintenance.

In the first seven months of the Indian fiscal year, which starts from April 1, India’s oil imports from Iran jumped 5.6 % to 249,100 bpd on the back of higher demand from refineries following the landmark nuclear deal in July.
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