Sources said National Iranian Oil Co
2019年7月3日Middle-East sellers offer not more than 15-day credit period.Now, Tehran has reduced this to 60 days, essentially meaning that IOC and MRPL would have to pay for the oil they buy from Iran in 60 days instead of previous liberal term of 90 days, sources said.Iran oil sale terms were the most attractive for Indian refiners.8 billion in developing the Farzad-B gas field and another USD 5 billion to build a liquefied natural gas export facility, he said.Iran had earlier this year signed initial pact with Russias Gazprom for developing the OVL-discovered gas field of Farzad B but has kept the door open for awarding it to the Indian firm.The field in the Farsi block has an in-place gas reserve of 21.5 trillion cubic feet gas field to its discoverer ONGC Videsh Ltd India decided to cut oil imports from Iran by a fifth in 2017-18.
With Tehran delaying the award of rights to develop the 12.7 tcf, of which 12.Iran, Indias third biggest oil supplier, used to give a 90-day credit period to refiners like Indian Oil Corp (IOC) and Mangalore Refinery and Petrochemicals Ltd (MRPL) to pay for the oil they would buy from it.New Delhi: ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), on Monday said it hasnt heard from Iran on the USD 11 billion best offer it gave for developing the Farzad-B gas field. The project has so far cost the OVL-led consortium, which also includes Oil India Ltd and Indian Oil Corp (IOC), over USD 80 million.OVL has offered to invest about USD 5. Besides, a liberal credit period, it also shipped the oil to India for a nominal 20 per cent of normal ocean freight.."We have given them our best offer.Iran retaliated by first cutting by one-third the time it gave to Indian refiners to pay for oil they buy from it as also raising ship freight rates, and then by signing a memorandum of understanding (MoU) with Russian gas monopoly Gazprom.Iran wants a high price of the https://www.kn-rubberproducts.com/product/auto-maintenance-equipment/rubber-shock-absorption-pads-for-wheel-alignment-turntable.html natural gas, making the investment practically unviable."We are ready to invest provided we get reasonable returns," OVL Managing Director Narendra K Verma told reporters here.
Sources said National Iranian Oil Co (NIOC) has also decided to cut the discount it offers to Indian buyers on freight from 80 per cent to about 60 per cent.Farzad B was discovered by OVL in the Farsi block about 10 years ago."We will get the project the day we accept their conditions. New Delhi is keen that the gas from the field comes to India to feed the vast energy needs. But for me to go ahead and make such investments, it has to bring reasonable returns and making economic sense," he said without elaborating.Sources said Indian refiners have cut oil imports from Iran by a fifth to 190,000 barrels per day (bpd) in 2017-18 from 240,000 bpd in the previous fiscal. Now, it is up to them to agree or not agree," Verma said.
With Tehran delaying the award of rights to develop the 12.7 tcf, of which 12.Iran, Indias third biggest oil supplier, used to give a 90-day credit period to refiners like Indian Oil Corp (IOC) and Mangalore Refinery and Petrochemicals Ltd (MRPL) to pay for the oil they would buy from it.New Delhi: ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), on Monday said it hasnt heard from Iran on the USD 11 billion best offer it gave for developing the Farzad-B gas field. The project has so far cost the OVL-led consortium, which also includes Oil India Ltd and Indian Oil Corp (IOC), over USD 80 million.OVL has offered to invest about USD 5. Besides, a liberal credit period, it also shipped the oil to India for a nominal 20 per cent of normal ocean freight.."We have given them our best offer.Iran retaliated by first cutting by one-third the time it gave to Indian refiners to pay for oil they buy from it as also raising ship freight rates, and then by signing a memorandum of understanding (MoU) with Russian gas monopoly Gazprom.Iran wants a high price of the https://www.kn-rubberproducts.com/product/auto-maintenance-equipment/rubber-shock-absorption-pads-for-wheel-alignment-turntable.html natural gas, making the investment practically unviable."We are ready to invest provided we get reasonable returns," OVL Managing Director Narendra K Verma told reporters here.
Sources said National Iranian Oil Co (NIOC) has also decided to cut the discount it offers to Indian buyers on freight from 80 per cent to about 60 per cent.Farzad B was discovered by OVL in the Farsi block about 10 years ago."We will get the project the day we accept their conditions. New Delhi is keen that the gas from the field comes to India to feed the vast energy needs. But for me to go ahead and make such investments, it has to bring reasonable returns and making economic sense," he said without elaborating.Sources said Indian refiners have cut oil imports from Iran by a fifth to 190,000 barrels per day (bpd) in 2017-18 from 240,000 bpd in the previous fiscal. Now, it is up to them to agree or not agree," Verma said.
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