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India's MRPL Iranian oil imports to slip to 76,000 bpd in 2012/13

Source : REUTERS
Last Updated: Thu, Jan 31, 2013 12:21 hrs

NEW DELHI, Jan 31 (Reuters) - MRPL, Iran's top Indian oil client, will import 76,000 barrels per day (bpd) from the sanctions-hit nation in the current contract year against the targeted 100,000 bpd, a company executive said on Thursday.

European Union and U.S. sanctions aimed at forcing Iran to curb its disputed nuclear programme, which the West believes is aimed at making a bomb, have more than halved Iran's oil exports in 2012. Iran says its nuclear programme is for civilian use.

"This fiscal year it will be about 3.8 million tonnes (76,000 bpd) from Iran," said P.P. Upadhya, managing director of MRPL.

He said the reduction is largely due to shipping issues.

Iran's major Asian clients -- China, India, Japan and South Korea -- have all cut imports heavily to secure a waiver from the sanctions and continued access to the U.S. financial system.

(Reporting by Nidhi Verma; Editing by Jo Winterbottom)




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