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India's oil imports from Iran top 500,000 bpd in 2016/17
NEW DELHI - India's Iran oil imports jumped to a record high in 2016/17 topping half-a-million barrels per day (bpd) as refiners boosted purchases after lifting of some Western sanctions against Tehran last year.
India, Iran's biggest oil buyer after China, was among a handful of countries that continued to deal with Tehran despite Western sanctions over its nuclear programme.
Refiners shipped in about 541,000 bpd of Iranian oil in the fiscal year to March, a growth of about 115 percent over the previous year, ship tracking data obtained from sources and data compiled by Thomson Reuters Oil Research & Forecasts showed.