USA may grant waivers on Iran crude sanctions

USA may grant waivers on Iran crude sanctions

Petroleum Minister Dharmendra Pradhan on Monday said Indian companies will continue to buy Iranian oil in November despite the looming USA sanctions on that country.

The minister's comments come before the USA sanctions on Iran kick in from November 4. "We do not know if we will get waiver (from USA sanctions) or not".

On the fall of crude price, oil watchers likened the cause on expectations that some Iranian oil exports will keep flowing despite USA sanctions, easing a strain on supplies. Pradhan said India has its own energy requirements which need to be fulfilled.

"It has been quite a tough process to negotiate", said Sanjay Sudhir, a joint secretary handling worldwide cooperation in the Oil Ministry, in reference to efforts to diversify supplies and reduce Iranian imports.

Indian Oil Corp (IOC) Chairman Sanjiv Singh said his company is among the two which have placed order for November.

"We have ordered for our usual quantity of oil", he said.

Reuters said that Indian Oil would buy six million barrels of oil and Mangalore Refinery and Petrochemicals three million barrels.

Why Arsenal’s 5-1 win is "deceitful", Lacazette
He is believed to be on around £110,000 a week with Pierre-Emerick Aubameyang and Henrikh Mkhitaryan on £170,000. We will enjoy it, we are working well and we want to continue like this.

"Any country that makes such claims. just wants to display its support for the United States sanctions against Iran", Zanganeh was quoted as saying. Paying in rupee is an option.

Prince Mohammed told Bloomberg on Friday that the kingdom had met its promise to Washington to make up for Iranian oil supplies lost through U.S. sanctions, reimposed when the United States exited a 2015 nuclear deal between Tehran and six powers.

Pradhan said that while speaking to Saudi Arabia's energy minister Khalid A. Al-Falih two days ago he had reminded him of Opec's June decision and added that perhaps the increase in oil productions had not taken place. Saudi Arabia, Kuwait, Iraq, Nigeria, and the USA do not offer these terms. "Iran's oil can not be replaced by Saudi Arabia nor any other country", Zanganeh was quoted as saying on his ministry's website.

Mr Zanganeh said: "Mohammed bin Salman's remarks can only satisfy (U.S. President Donald) Trump". Reuters had reported on Friday that India would buy 9 million barrels of Iranian oil next month.

"However it would come at a cost, both in terms of higher oil prices compared to the favourable terms it gets from Iran and in terms of higher shipping costs as they would inevitably be longer distance shipments compared to Iranian exports".

On Monday, crude oil prices fell early in the session in response to a report that Saudi Arabia stands ready to replace all of the oil lost because of the sanctions.

"What the Saudis had been supplying the market with, were not from Riyadh's spare capacity but from tapping its oil stocks", Zanganeh said, according to the website.

Related News:

  • Mueller Finds That Trump Campaign Sought

    Mueller Finds That Trump Campaign Sought "Social Media Manipulation" Service

    Robert Mueller and the Special Counsel's office are now investigating these proposals according to the New York Times . A lawyer for Zamel denied to the Times that he had discussed the proposal with anyone from the Trump campaign.
    Reported explosion at oil refinery in Saint John, NB

    Reported explosion at oil refinery in Saint John, NB

    Bob McVicar, a resident in the New Brunswick city, posted on Facebook that it felt like a "bed-shaking explosion". Crews are fighting a major fire at the Irving Oil refinery in Saint John, New Brunswick.
    Sales plunge forces Jaguar Land Rover to shut factory for two weeks

    Sales plunge forces Jaguar Land Rover to shut factory for two weeks

    Despite this, we expect lower tariffs on United Kingdom imports to be beneficial over the full year, he added. JLR's United Kingdom sales fell by just 0.8% in September, bucking the industry-wide decline of 20.5%.
  • Qualifier Medvedev shocks Nishikori to win Japan Open

    Qualifier Medvedev shocks Nishikori to win Japan Open

    For the men in Beijing, top-seeded Del Potro did not have to hit a ball as his semi-final opponent, Fabio Fognini retired. Nishikori, who has not won an ATP World Tour title since Memphis in 2016, will face Daniil Medvedev in Sunday's final.

    Made by Google event today

    It has an iPhone X-esque notch and a supposed OLED display that spans 6.2 inches, with a screen resolution of 1,440x2,960 pixels. It can also show your calendar, commute time, reminders plus there's ability to control lights, smart cameras, and even your TV.
    Skripal attack: Bellingcat names second Salisbury suspect

    Skripal attack: Bellingcat names second Salisbury suspect

    The poisoning of Skripal, a former Russian agent who was convicted of spying for Britain, became a major global incident. The website said it discovered Mishkin's real identity after obtaining a scanned copy of his passport.
  • Naomi Osaka: I was more emotional than what I normally am

    Naomi Osaka: I was more emotional than what I normally am

    Caroline played incredible today, it's always tough playing against her and I have never won. The time off allowed her body to mend and she returned to the sport in January 2015.
    UChicago Alum, Former Professor Wins Nobel Prize in Economics

    UChicago Alum, Former Professor Wins Nobel Prize in Economics

    Last year, the honour went to United States economist Richard Thaler, a co-founder of the so-called "nudge" theory. They were honoured for integrating climate change and technological innovation into macroeconomic analysis.
    International Monetary Fund  predicts India will grow at 7.3% in 2018-’19

    International Monetary Fund predicts India will grow at 7.3% in 2018-’19

    That includes President Donald Trump's imposition of tariffs on $250 billion in Chinese goods, as well as on aluminum, steel and other products worldwide.
  • Taylor Kinney Says He's

    Taylor Kinney Says He's "Proud" of Lady Gaga

    News how her A Star Is Born co-star Bradley Cooper helped her open up and become truly connected to her character. Despite mostly negative critical reviews , audiences are showing up for Venom , and they're liking what they see.

    Google Pixel 3 Event

    However, the main underline of the event will be the new Pixel 3 series which will comprise of Pixel 3 and Pixel 3 XL . The Engadget editor also mentions the single 12.2MP rear camera and dual 8MP front-facing camera on the Pixel device.
    India thrash Windies to record largest-ever Test win

    India thrash Windies to record largest-ever Test win

    India 1st Innings: 649 for 9 in 149.5 overs ( Virat Kohli 139, Prithvi Shaw 134, Ravindra Jadeja 100; Devendra Bishoo 4/217). Mumbai: The omission of Murali Vijay and Karun Nair from the Indian Test squad against West Indies has raised a debate.


Most liked

Scientists: Sex with Neanderthals Homo sapiens protected from viruses
After a series of studies, scientists concluded that breeding humans with Neanderthals was necessary for all of their descendants. The team of researchers examined 4.500 genes from modern humans that interact with the RNA viruses.

Kanye West to meet with Trump at the White House
In the clip, Davidson called out West for his antics after the SNL cameras went off during last week's premiere. The two men are expected to discuss prison reform, gang violence and and manufacturing resurgence in the US.

Brandt Snedeker leads at Silverado; Phil Mickelson 3 strokes back
Brandt Snedeker hit the front after the second round of the Safeway Open , where Phil Mickelson is three shots off the pace. Mickelson added that he won't play many events going forward with rough like the Ryder Cup .

Robertson: Two-horse title race talk well off the mark
On the other hand, Liverpool are third behind Manchester City and Chelsea on the Premier League table but have the same points as the other two teams.

SpaceX's latest rocket launch dazzles in California's night sky
LZ-4 is built on the former site of Space Launch Complex 4W, from which Titan rockets were previously launched. Nearing the top of the discernible atmosphere, the booster fired the engines again to slow down for re-entry.

Drew Brees passes Peyton Manning's record as Saints beat Redskins
Adrian Peterson had just six yards on four carries before leaving with a shoulder injury. "What we did tonight", Smith said. This was the fifth straight game Washington hasn't scored a touchdown in the third quarter, dating back to a year ago .

5,000 feared missing as Indonesia quake death toll rises
Hundreds of people Saturday rushed a truck carrying gas cylinders for cooking, with long and desperate queues quickly forming. Many thousands of people are still too afraid to stay in their houses, especially at night, owing to the ongoing aftershocks.

Israel reduces Gaza fishing zone in reprisal for protests
The Health Ministry in Gaza reported three deaths, including a 12-year-old boy, and more than 400 wounded. Following a period of relative calm, there has been a resurgence in mass protests in recent weeks.

Google Home Hub set to be available from October 22, claims leak
As for recording videoss, the rear camera can record 4K videos at 30FPS and the front camera can only record video upto 1080p. Now, what exactly Google has in mind we will get to know in a few hours when the company officially unveils the device.

Amazon's $15 an hour a win? Not so, veteran workers say
However, the new minimum wage will not include independent contractors , such Amazon Flex drivers. Earlier this week, Amazon announced that it will raise its minimum hourly wage to $15.

Avengers 4 Rumored To Have Big Time Jump
According to a user on Twitter claiming to be connected in Hollywood, The Avengers 4 will start five years in the future. Ruffalo joked, "I've kind of got a punk rock soul and I felt like 'dude, everyone has tattoos".

Chaser projects Alan Jones’ ad and phone number onto Sydney Opera House
Comedy crew The Chaser have out-Jonesed Alan Jones by projecting his phone number onto the sails of the Sydney Opera House . Until the results of the draw are made public on Tuesday evening, punters will not be able to bet on the $13 million race.

‘Venom’ breaks records, ‘A Star Is Born’ shines at the box office
The films' combined success helped make this the best October weekend at the movies of all time in North America. Coming in at No. 2 this weekend is the music-heavy drama " A Star Is Born ".

United Nations report on climate change sets off alarm bells
While the United Nations panel says technically that's possible, it saw little chance of the needed adjustments happening. Monday's report is three years in the making and is a direct result of the 2015 Paris Climate Agreement .

FA to investigate allegations Jose Mourinho swore in Portuguese
His stock has never been lower as a United player; he's one of many who needs a change in fortunes. The concern for United is that this is not new for Mourinho.