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Govt cuts oil import plans from Iran by a quarter over gas field row

India is Iran's top oil client after China

Reuters  |  New Delhi 

India plans to order about a quarter less Iranian crude oil than it bought last year, people familiar with the matter said, as state refiners cut term purchase deals over a row between New Delhi and Tehran on the development of a natural gas field. The drop in volumes follows India's threat to order state refiners - Hindustan Petroleum, Bharat Petroleum, Mangalore Refinery and Petrochemicals Ltd, and Indian Oil Corp - to reduce purchases from Iran if an Indian consortium is not awarded the rights to develop Iran's huge Farzad B natural gas field. The volume cuts ...

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First Published: Tue, May 02 2017. 19:17 IST