India replaces iran with iraq as oil supplier

Discussion in 'Foreign Relations' started by Lions Of Punjab, Feb 4, 2015.

  1. Lions Of Punjab

    Lions Of Punjab Regular Member

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    PressTV-Iraq replaces Iran as India’s supplier

    [​IMG]

    India’s Mangalore Refinery and Petrochemicals Ltd (MRPL) has replaced Iran with Iraq in its list of oil suppliers and has purchased its first cargo of Basra Light from Baghdad.

    Reuters reported on Monday that the purchase – which was carried out through a spot tender – is partly meant to plug the gap created by reduced imports of Iranian oil under the US-led sanctions against Tehran.

    MRPL was India’s second largest buyer of Iranian oil in 2014. Reuters said it has now purchased 1 million barrels of Basra Light oil from Europe's Total at a discount of $1.50 a barrel to Dubai prices on a delivered basis for March 1-10 lifting. The refiner in a separate tender for low-sulphur oil has purchased 1 million barrels of Congolese Coco crude from trader Vitol at a discount of $4 a barrel to dated Brent for lifting in the first half of March, the report added.

    On a related front, reports by Indian media said on Monday that the country’s domestic refiners such as Mangalore Refinery and Petrochemicals were ‘informally asked’ by the Indian Government to cut purchases from Iran, as it had already touched the sanction limit.

    This appears to have occurred before the recent visit to New Delhi by US President Barack Obama.

    Reports said that MRPL had by January of the current fiscal year already crossed its last fiscal’s total imports from Iran (around 4 million ton).

    This appears to have caused stress to MRPL, which had to float tenders to buy crude oil for February and March. Nevertheless, reports say the refiner has been able to replace Iranian supplies with crude oil from other places thanks to the prevailing global market conditions and adequate supplies.
     
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  3. sorcerer

    sorcerer Senior Member Senior Member

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    Why does the media have to bring in the POTUS into economic adjustment done by MRPL? :D

    Its just a normal adjustment when you cross the threshold.
     
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  4. sorcerer

    sorcerer Senior Member Senior Member

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    India treating soldiers from Mosul
    Kallol Bhattacherjee

    Iraq has thanked India for medical support to its forces fighting the Islamic State in Mosul. Iraqi ambassador Fakhri Hassan Mahdi Al-Issa told The Hindu that the country’s Defence Ministry has been sending injured soldiers and volunteers of National Mobilisation from the battlefield to India for treatment.

    “As of now we are sending soldiers to a major hospital in the National Capital Region as the Iraqi Defence Ministry has entered into an agreement with the hospital. We also have other hospitals in the network and have sent cadre of Popular Mobilisation in the recent past”, said Mr. Al-Issa. He also disclosed that Iraq has flown Indian doctors to Baghdad and Karbala to handle patients who needed emergency treatment.

    The campaign to free Mosul was launched in January to free the city from the control of the IS.

    One of the biggest cities of Iraq, Mosul fell to the IS in June 2014.

    The envoy clarified that injured soldiers have been arriving in Delhi for several months now as the campaign intensified. Iraqi forces and the Popular Mobilisation have now entered the city where street-fighting is raging.

    “We shall continue to require medical support from Indian establishments as the coming weeks are going to be difficult,” he said.

    Artemis Hospital, Gurgaon, one of the major institutions where the soldiers are being treated, said it has treated 450 Iraqi soldiers so far, including those from the National Mobilisation which was constituted to fight the IS.

    “We entered into an agreement with the Defence Ministry of Iraq in 2014 and ever since have been treating the soldiers,” said a representative of the hospital.

    The envoy said ties with India have been ramped up after the Iraqi forces launched the offensive against the IS.

    Minister of State for External Affairs M.J. Akbar visited Iraq in September to hold discussions with the leadership in Baghdad. Reciprocating Mr. Akbar’s visit, Iraq will be sending Foreign Minister Ibrahim Al-Jaafari and Petroleum Minister Jabbar Ali Al-Luaibi to India shortly, the envoy said.

    http://www.thehindu.com/news/nation...d&utm_medium=RSS&utm_campaign=RSS_Syndication
     
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  5. mavles ihctep

    mavles ihctep Regular Member

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    We always had strong relationship with iraq. Hope peace return to Iraq soon
     

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