USA may grant waivers on Iran crude sanctions

US considers sanction waivers on countries reducing imports of Iranian oil

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.

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.

"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:

  • Netanyahu and Putin to meet over downed Russian plane

    Netanyahu and Putin to meet over downed Russian plane

    It is not the first time Sara Netanyahu, an educational psychologist, has come before a court over alleged misbehavior. In 2016, a court ruled that she had abused one of her housekeepers and was ordered to pay a fine of $42,000 (£32,189).

    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.
    United Nations  report on climate change sets off alarm bells

    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 .
  • 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.

    Lacazette confident more to come from high-flying Arsenal

    And after the initial hiccup at the start of the season, the London outfit are finally showing potential under their new manager Unai Emery .
    Amazon's $15 an hour a win? Not so, veteran workers say

    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.
  • 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.
    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.
    Kurt Angle qualifies for World Cup at Crown Jewel in Saudi Arabia

    Kurt Angle qualifies for World Cup at Crown Jewel in Saudi Arabia

    He and Triple H reunited as D-Generation X on Raw and challenged The Undertaker and Kane to a tag match at Crown Jewel . It was also his first match on Raw since January 2006, when he lost to Shawn Michaels in Raleigh, North Carolina.
  • Robertson: Two-horse title race talk well off the mark

    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.
    Russian Federation  'tried to hack Foreign Office', says British diplomat

    Russian Federation 'tried to hack Foreign Office', says British diplomat

    The OPCW is headquartered in the Netherlands, where the Dutch government has confirmed the attempted attack. Here is a summary of the GRU's activities, according to western intelligence agencies.

    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.


Most liked

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.

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.

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 .

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.

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.

Rare White tiger kills Japan zookeeper in attack
A zookeeper died after a white tiger mauled him Monday afternoon at a zoological park in Kagoshima, rescue workers said. White tigers, a sub-species of its orange Bengal tiger cousins, are extremely rare in the animal kingdom.

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.

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.

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%.

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.

Missing Saudi Journalist Killed Inside Istanbul Consulate: Turkish Police Sources
Turkish authorities have concluded that the Saudi journalist had been killed at the consulate of Saudi Arabia in istanbul . Suggestions by Saudi- friendly analysts that Qatari agents connived with Ankara to kidnap Mr Khashoggi are far-fetched.

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.

‘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 ".

#MeToo movement hits MoS MJ Akbar, actor Alok Nath
Supporting the writer-producer, CINTAA general secretary Sushant Singh said a show-cause notice will be sent to Nath. Nanda also shared that Alok Nath "brutalised" at her own residence after offering to drop her home from a party.