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Iran will do its best to secure India's oil supply by offering "flexible measures" to boost bilateral trade, said a statement from the embbady from Tehran to New Delhi.
Oil production platform in the Soroush fields in the Persian Gulf, Iran 25/07/2005 REUTERS / Raheb Homavandi
Photo: Reuters
Iran is India's third largest oil supplier and has offered incentives to refineries, including nearly freight-free shipments and an improved credit period for oil sales.
India, Iran's leading oil consumer after China, asked refineries to prepare for cuts. "
" Iran understands India's difficulties in dealing with an unstable energy market and has done and will do its best to ensure security of supply from India, "said the statement.
Iran 's oil imports by India declined by about 16 percent in June compared with May, the data from India. ship arrivals showed
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