Indian state-run refiners are preparing for potential purchases of Iranian crude, contingent on whether the United States extends sanctions waivers or eases restrictions beyond August. According to people familiar with the matter, the refiners are in discussions with traders marketing Iranian oil and are positioning themselves to buy barrels if the legal and commercial conditions change. Several outlets note that the companies have limited flexibility to buy immediately because they have already fully contracted shipments required through August. As a result, any ramp-up in Iranian sourcing is more likely to follow an extension of the US waiver period, which would affect the ability to trade and finance Iranian crude. The refiners’ assessment also occurs alongside shifts in broader supply dynamics and pricing. One report cites softer oil prices in the Middle East and indicates that Russia remains India’s top supplier despite improving perceptions around supply availability. Overall, the outlets describe a planning and readiness phase rather than confirmed new purchases, tied mainly to US waiver timelines and the refiners’ existing contracted supply commitments.
Indian state refiners weigh Iranian crude purchases if US sanctions waivers extend
Indian state-run refiners are preparing for potential purchases of Iranian crude, contingent on whether the United States extends sanctions waivers or eases restrictions beyond August. According to pe...
- Indian state-run refiners assess buying Iranian crude if US sanctions waivers extend beyond August or restrictions ease.
- Refiners are in talks with traders marketing Iranian oil.
- They have limited immediate room to buy because shipments required through August are already fully contracted.
- One report cites softer Middle East oil prices as part of the assessment.
- Russia remains India’s top crude supplier even as supply concerns ease.
State-run refiners are assessing Iranian crude amid softer Middle East oil prices, with Russia remaining India's top supplier despite easing supply concerns.
1 month agoIndia’s state-run refiners are in talks with traders marketing Iranian crude, and are preparing to buy barrels if the US extends waivers beyond August or eases restrictions, according to people familiar with the matter.
1 month agoThe companies, however, have little room to buy Iranian oil immediately, having fully contracted shipments required through August after they sought to secure supplies in advance during the war
1 month ago
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