India waits and looks at the question of Iran before making a decision: Pradhan

India "waits and observes" the events unfolding around the announcement by the United States to impose sanctions on any major Iranian oil country after November 4, according to the Minister of Petroleum, Dharmendra Pradhan. which will serve the best interests of India, "said Mr. Pradhan The Hindu ." We are waiting and watching over the matter. "

Separately, in an interview, the minister also said that India was open to doing business with any country that was willing to offer favorable conditions on oil.He added that the size and growth potential of the Indian market were such that he had largely helped convince the OPEC countries to increase their supply of one million barrels a day and partly alleviate the higher costs incurred by " The issue of Asian premiums will be resolved when it will be, but in the meantime, we have not seen Qatar renegotiate its gas prices, "said Mr. Pradhan." Have not we played a major role to convince the OPEC countries to increase their production? What has forced the OPEC countries to review the subject of a reduction in production and to commit to producing an additional 1 million barrels a day? The reason is the strength of the market in India. This is not our claim, this can be verified in OPEC procedures. "

" We are open to all, from China to the United States, "he added," Whoever gives us oil and gas on good terms, we will do business with them. "[19659002] The Minister then pointed to the good relations that India had with West Asia and how it was beneficial to India.

West Asia

"They (the United Arab Emirates) will open the auction cycle in three or four months during which India plans to participate in partnership with an UAE company, "said Mr. Pradhan. India is stronger than it has ever been with countries like the UAE and Saudi Arabia. Have we ever had a field of production in the Middle East? We had in Russia, Sudan, Canada, but not where oil is! For the first time, through an appointment procedure, the UAE first gave it to India and then to Japan. "

Speaking of oil prices in India and whether an increase in production of OPEC countries would have an effect on them." Pradhan said that "there should be an effect on prices, but slowly.

However, the minister was kept on when petroleum products would be subject to the GST, saying that the Center and the states have financial imperatives to maintain the status quo taxation of fuels intact