Mangalore Refinery Buys 35% of Its Crude Oil Requirements From Iran

Mangalore Refinery cuts its crude oil imports from Iran by 15%. Currently this Indian refinery buys 35% of its crude oil requirements from Iran.

Previously this company used to buy 50% of its crude oil requirements from Iran, but after the recent pressure of United States on India regarding sanctions over Iran oil, the company reduced its imports from Iran by 15%. Hillary Clinton asked Indian government to cut the oil trades with Iran, however Iranian governments announced this 15% deduction was part of the deal’s contract with Indians. Mangalore Refinery announced this decision was made in ministry level.

Some authorities of Mangalore Refinery and Petrochemicals Limited announced the company has started to buy crude oil from Saudi Arabia, Kuwait, Iraq and Russia.

Mangalore Refinery imported 15 million tons of crude oil in last month while this number was only 11.82 million tons in the previous month. This shows the 27% increased in Mangalore’s crude oil requirements.

Mangalore Refinery is an oil refinery at Mangalore and is a subsidiary of ONGC, set up in 1993. The refinery is located at Katipalla, north from centre of Mangalore city.

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