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[size=30]India's average oil imports from Iran are 471,000 bpd in 2017[/size]
17/01/2018 08:44 | Number of readings: 74
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Trend Press / Agencies
Data showed that India's oil imports from Iran in 2017 amounted to about 471 thousand barrels per day, down slightly from 2016.
India's crude oil imports rose about 1.8 percent in 2017 to a record 4.37 million barrels per day (bpd) as the country increased its purchases of crude to feed expansions of the country's oil, the Thomson Reuters Oil Research data showed.
As it seeks to meet growing domestic demand for fuel, India, the world's third-largest oil consumer, has increased its refining capacity in the second half of 2017 to around 5 million bpd.
The data showed that in 2017, Iraq appeared for the first time as the largest supplier of crude to India on an annual basis while Saudi Arabia fell to the second place.
Iran came as India's third largest oil supplier in 2017, replacing Venezuela. The data showed that India's oil imports from Iran last year amounted to about 471 thousand barrels per day, slightly down from 2016.
India's imports of Iranian oil hit a nine-month high in December.
Data showed that the Middle East remained the largest supplier of oil to India, although the share of the region in total imports fell to about 63 percent from about 64.5 percent in 2016.
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