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(Repeats the story published on Friday without modification of the text)
* The IOC will buy 6 million barrels in September, 7 million barrels in October
* MRPL will buy 3 million barrels each in September, October
* Nayara will buy 1 mln each in September and October
* India in April-October Iran imports 73% of fixed contracts
By Nidhi Verma
NEW DELHI, Sept. 14 (Reuters) – Indian refineries are slashing Iran's monthly shipments by nearly half in September and October, as New Delhi strives to derail Washington's oil sanctions in Tehran in November.
Indian shipments from Iran for this month and the next will fall to less than 12 million barrels each, after purchases from April to August were boosted in anticipation of cuts.
The United States renews its sanctions against Iran after having withdrawn from a nuclear agreement concluded in 2015 between Tehran and the world powers. Washington has reinstated some of the financial sanctions from August 6, while those affecting the Iranian oil sector will come into effect on Nov. 4.
India, Iran's second largest oil customer behind the main Chinese buyer, does not recognize US sanctions reimposed, but getting a waiver from these restrictions is a necessity for New Delhi to protect its greater exposure to the US financial system.
In June, India's oil ministry asked refiners to prepare for a "drastic or zero reduction" in imports from Iran by November.
"Some refiners have already exhausted their futures to a large extent, which allows them to go back to zero if necessary, or until the exemptions are clearly defined," said Amrita Sen, chief oil analyst. at Energy Aspect. told Reuters.
Washington will consider waivers for Iranian oil buyers such as India, but they will eventually have to stop Tehran's crude imports, US Secretary of State Mike Pompeo said last week in New Delhi.
The Indian government, already facing a sharp downward rupee reaction and record fuel prices, does not want to stop Iran's oil imports as the Islamic Republic offers a discount on oil sales to India .
Government sources said India had made the point in last week's meetings with US officials and remained in contact with Washington to find exemptions for oil purchases from Iran.
"We have a special relationship with the United States and Iran, and we're seeing how to balance that and balance the interests of refiners and end consumers," said one government official.
But if Washington adopts a hard line, India will have no choice but to stop imports from Iran, they said.
CUTTING IMPORTS NEAR HALF
India has raised about 658,000 barrels of oil per day (bpd) in April-August, according to data obtained from commercial sources by Reuters, and cuts planned for September and October would drop about 45 % the daily average to 360,000-370,000 b / d.
Indian oil refiners have already given October loading plans to the National Iranian Oil Co (NIOC), sources close to the loading schedule said.
Indian Oil Corp, the first refiner, wants to raise 6 million barrels each in September and October, while the refinery and petrochemical Mangalore each load 3 million barrels for two months, said sources.
IOC is also expected to raise 1 million barrels for its Chennai Petroleum Corp subsidiary in October, they said.
Bharat Petroleum Corp would raise 1 million barrels in September and not make any more purchases in October, a company source said on Tuesday.
Bharat Petroleum has already pulled more than its fixed volumes – the amount it is forced to buy – that were contracted for 2018/19, said its chairman on Tuesday.
Nayara Energy, which is owned in part by Russian oil giant Rosneft, plans to raise 1 million barrels each in September and October, the sources said. But the refiner has started cutting back on oil imports from Iran in June and plans to stop buying completely from November.
Hindustan Petroleum, Reliance Industries and HPCL Mittal Energy (HMEL) have no plans to buy from Iran in September and October, they said.
Indian refineries, excluding Reliance and HMEL, which do not have an open-ended contract with Iran, will collectively collect about 73% of their fixed contract volumes from Iran by the end of October, according to the loading data.
IOC, Nayara and MRPL have not responded to Reuters e-mails requesting comment.
Reportage by Nidhi Verma; Editing by Tom Hogue
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