Tag Archives: India

OPEC forecasts India'.s crude oil demand will expand to 5.8 million barrels per day by 2040.

Senior executives from state and private entrepreneurship companies will accompany FM Zarif on this three-day visit.

The exemption will allow Indian refiners to settle about $1.5 billion of outstanding payments to NIOC through direct rupee payments.

The two countries on Nov. 2 signed a bilateral agreement to settle oil trades through an Indian government-owned bank.

India is one of the largest consumers of crude oil and Iran has been one of the key suppliers.

The second meeting of the committee will be hosted by India in the first half of 2019.

Washington had been pushing governments to cut imports of Iranian oil to zero.

OPEC tentatively agreed to an oil output cut on Thursday.

In India. gas is primarily used for fertilizers. followed by power generation. domestic fuel - largely for cooking - transport and petrochemicals.

The Indian government has not yet disclosed the price tag for making this significant switch away from crude and toward natural gas.