Iran General NewsIndia's Reliance halts petrol sales to Iran-report

India’s Reliance halts petrol sales to Iran-report

-

ImageReuters: India's Reliance Industries Ltd has stopped gasoline exports to Iran, to help avoid possible restrictions on sales of its fuel to the U.S. market, the Economic Times reported on Thursday.

ImageNEW DELHI, June 4 (Reuters) – India's Reliance Industries Ltd has stopped gasoline exports to Iran, to help avoid possible restrictions on sales of its fuel to the U.S. market, the Economic Times reported on Thursday.

The newspaper cited an identified company official as saying the sales were halted last month.

"As a corporate policy and to maintain business confidentiality, we do not comment on specific transactions," a Reliance spokesman told Reuters.

Twenty-five U.S. senators from both parties in April proposed giving President Barack Obama new leverage in the dispute over Tehran's nuclear ambitions: the authority to sanction companies supplying gasoline to Iran.

Iran is the world's fourth-largest oil exporter, but lacks the refining capacity to meet domestic demand and relies heavily on imports to guarantee fuel at the pumps.

Reliance operates a 660,000 barrels per day refinery at Jamnagar in western India and its subsidiary Reliance Petroleum Ltd commissioned a new export-focused 580,000 bpd plant adjacent to the existing refinery.

After reaching full capacity, the new refinery and the existing plant will make the Jamnagar complex the world's single-biggest supplier of fuels to the global market, pumping out 1.24 million bpd. (Reporting by Nidhi Verma)

Latest news

 Statistics show that New Year accidents’ deaths in Iran reached 585

Ahmad Shirani, the head of the Information and Traffic Control Center of the Iranian regime’s police, announced that the...

Land Subsidence in Critical Conditions in Isfahan

Mehdi Toghyani, a member of the Iranian regime’s Majlis (parliament), pointed to the occurrence of land subsidence in various...

Iran’s Actual Inflation Rate Higher Than Official Stats

The state-run Donya-e-eqtesad newspaper, in a report analyzing the "general sentiment" regarding inflation in 2023, has stated that households...

Iranian Workers’ Monthly $136 Wages Can’t Cover $500 Expenses

The lives of a significant portion of the Iranian population are marked by uncertainty, largely because the Iranian economy...

Iranian Nurses Earn Twice Their Wages in Ride-Hailing Services

Reza Aryanpour, a member of the regime’s Majlis (parliament) Health and Treatment Commission, highlighted the growing trend of nurses...

Iran: Unprecedented Record of 152 Million Liters of Gasoline Consumption Per Day

On March 19, Iran set a new historical record in gasoline consumption with 152 million liters consumed in one...

Must read

Bush warns Iran against fuelling violence in Iraq

Reuters: U.S. President George W. Bush vowed on Monday...

Iran warns Malaysia against hanging Iranian women

AFP: "The execution of two Iranian women in Malaysia...

You might also likeRELATED
Recommended to you