The construction of Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline to be ready on time, within the stipulated time. Pakistan was bound to purchase gas from Iran by January 1, 2015. Despite a number of hurdles the Pakistan government was committed to complete the project within the stimulated period, Pakistan's Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi told the National Assembly, the lower house of the Palistan Parliament.
Tag: Iran
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Moily says India to save $8.5 bn via Iran oil imports
By increasing crude oil imports from Iran, India plans to save over $ 8.5 billion in foreign exchange this fiscal, said the Union Petroleum and Natural Gas Minister Marpadi Veerappa Moily. Moily told this to Prime Minister Manmohan Singh in a written communication on August 30. India, which paid about $144.29 billion last fiscal for importing oil, is renewing imports from Iran and, unlike imports from other countries, it pays Iran in rupees.
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India to import crude oil from Iran
India will import crude oil from Iran to counterbalance any supply disruptions arising from imminent strikes by the US on Syria. The country has ruled out any considerable impact on IndiaÂ’s crude oil import supply in the event of US strikes on Syria. Prices of oil in the global markets have been hiked with the reports of imminent US strikes on Syria.
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Govt plans oil import from Iran to cut oil bill, CAD
To reduce the current account deficit (CAD), the Union Oil Ministry has worked out a plan, which can save $22 billion in the oil import bill from Iran, said the Union Petroleum Minister M Veerappa Moily. The Minister said that import of oil is one of the components responsible for CAD. The Prime Minister Manmohan Singh has told the Ministry to save $25 billion in the import bill. And accordingly, the Ministry has prepared a plan to save $22 billion in import bill, Moily said.
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Countries discuss transportation of goods from Chabahar port
Iran's President Hassan Rouhani held talks with Afghanistan Vice President Hamid Ansari on transportation of goods from Chabahar port in Iran. Two Indian ports expressed interest to upgrade Chabahar port and India's External Affairs Minister Salman Khurshid held discussion with Iran on the matter
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Govt may help firms insuring oil import from Iran
Media reports indicate that the union finance ministry plans to cover half of a proposed Rs 40 billion fund for underwriting the import of crude oil from Iran. It may be recalled that the union oil ministry and local insurers decided to contribute Rs 10 billion each to the proposed fund
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India may ask Iran to give right to develop port
Some media reports hint that the Indian government may ask Iranian government to assign it long-term rights of 60 to 90 years to develop and operate Chabahar Port. As an initial step to the phased development of the port, the existing facility can be modernised, and subsequently its capacity can be expanded
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MRPL wants to import oil from Iran again
Mangalore Refinery and Petrochemicals would take all necessary steps for recommencement of import or processing of Iranian crude oil in its refinery. This information was given by PP Upadhya, Managing Director of MRPL in a June 29 letter to Oil Secretary Vivek Rae, media reports suggest. The company stopped import of oil from Iran after local insurers said they could no longer cover plants that proc
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Chabahar port may be beneficial for India
Indian government feels that the use of Chabahar port in southwestern Iran may be beneficial for the country as it would provide easier access to Afghanistan. India, Iran and Afghanistan have an agreement on preferential treatment and low tariffs for goods moved through Chabahar port, which also has a free trade and industrial zone in its vicinity
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India must sort out transit fee, pricing of gas
While the Indian government showed interest in the Iran-Pakistan natural gas pipeline project, it remains to be seen how it arrives at a consensus with Pakistan on the transit fees for using the pipeline. During his recent visit to Iran, Indian External Affairs Minister Salman Khurshid showed interest in the project. Reports from New Delhi also indicate that the Iranian Oil Minister Rostam Qassemi is scheduled to visit New Delhi som