South Asia News

India to buy Iranian oil in November: Pradhan

Petroleum Minister Dharmendra Pradhan on Monday said that Indian companies will continue to buy Iranian oil in November despite the looming US sanctions on that country.
Oct 9, 2018
NEW DELHI: Petroleum Minister Dharmendra Pradhan on Monday said that Indian companies will continue to buy Iranian oil in November despite the looming US sanctions on that country.
 
"We have to fulfill our own domestic requirements. Some of our companies have already nominated theire quota for November," said the Minister for Petroleum and Natural Gas, while referring to import of Iran's oil by Indian companies. 
 
"We expect the global leaders will understand our requirements," he said on the sidelines of the "The Energy Forum" here.
 
The minister's comments come before the US sanctions on Iran kick in from November 4. Currently, India heavily relies on Iran for crude oil imports. 
 
On the last week's excise duty and fuel price cut, the minister said these prices will not be deregulated.
 
On October 4, Union Finance Minister Arun Jaitley announced a cut in excise duty by Rs 1.50 a litre. Additionally, the state-owned oil marketing companies have been mandated to reduce prices of petrol and diesel by Re 1 a litre. 

Leave a Reply

Your email address will not be published. Required fields are marked *

Sikkim's unique mountain architecture in need of protection

The Government of Sikkim realized something needs to be done and the newly-adopted Sikkim Tourism Policy is crystal clear about this. It states in Chapter 4: Application of appropriate designs for tourism infrastructure that considers the landscape, disaster risks, local architecture and materials needs to be addressed, writes Anne Fee

Read more...

Nepal's economy expanding, GDP growth 6.3 per cent: IMF

On February 8, 2019, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Nepal.

Read more...
Tweets about SAMonitor
SAM Facebook
SiteLock