Arab Today, arab today saudis gain from indiairan crude
Last Updated : GMT 13:23:05
Arab Today, arab today
Arab Today, arab today

Saudis gain from India-Iran crude

Arab Today, arab today

Arab Today, arab today Saudis gain from India-Iran crude

Mumbai - Arabstoday

Saudi Arabia is seeking to benefit from a payment dispute between Iran and India by selling additional cargoes of crude oil to refiners in the South Asian nation, two people with direct knowledge of the talks said. Saudi Arabian Oil Co, the state producer based in Dhahran, has told refiners in India it can replace some of the Iranian crude, the people said, asking not to be identified because the talks are private. A spokesman for Saudi Aramco who asked not to be identified said the company doesn\'t comment on speculation. International sanctions against Iran over its nuclear programme have prevented some refiners in India from finding banks willing to transfer payments for oil. India voluntarily ended a system that channelled funds through a bank in Germany, a government official said on April 5. National Iranian Oil Co (NIOC) said on July 3 it warned some Indian companies about payment delays. India owed $2 billion (Dh7 billion) to the country for its unpaid crude bills, NIOC said May 31. \"Riyadh has offered supplies to key Asian customers, stressing that it is a more reliable supplier than Iran,\" said David Kirsch, an analyst with PFC Energy. \"This stance by Saudi Arabia is in line with Washington\'s interests, but most importantly it also reflects the long-term commercial strategy to ensure captive demand in the world\'s key growing market.\" Aramco last month secured sales to three of nine refiners that it approached in Asia and Europe following a pledge by the world\'s biggest crude exporter to meet global demand as crude traded over $100 a barrel, people with knowledge of the sales said last month. The company found buyers in India, China and Japan, three people said on June 20, asking not to be identified because the sales are confidential. Six refiners in Asia contacted by Bloomberg said they turned down offers of more oil. Saudi Oil Minister Ali Al Naimi pledged on June 8 to supply whatever customers needed after the Organisation of Petroleum Exporting Countries (Opec) failed to reach a consensus on production levels at the group\'s meeting in Vienna on the same day. A Saudi plan to lift output, which was backed by Kuwait and the UAE, was blocked by Iran, along with Libya, Angola, Ecuador, Algeria and Venezuela. In the days that followed the Opec meeting, Aramco told customers they could have additional barrels on top of the supply they already receive under long-term contracts, according to Asian and European refiners. Iran should be wary of Saudi attempts to sell more oil to Asian refineries so as not to lose market share, the country\'s Opec Governor Mohammad Ali Khatibi was cited as saying on Thursday by Tehran newspaper Shargh. Saudi Arabia \"has reached out\" to potential buyers of crude, particularly in Asia, he said. From / Gulf News

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today saudis gain from indiairan crude Arab Today, arab today saudis gain from indiairan crude

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today saudis gain from indiairan crude Arab Today, arab today saudis gain from indiairan crude

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Sheraton Grand Hotel reveals its deals

GMT 12:20 2017 Monday ,25 September

Sheraton Grand Hotel reveals its deals
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Iran blocks all Iraqi Kurdistan flights

GMT 13:07 2017 Monday ,25 September

Iran blocks all Iraqi Kurdistan flights
Arab Today, arab today North Korea 'more opaque'

GMT 10:50 2017 Sunday ,24 September

North Korea 'more opaque'
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today 'Lady Beast' fights for girl gamers

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers
Arab Today, arab today Conditions growing dire    

GMT 09:22 2017 Monday ,25 September

Conditions growing dire    
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Psychologists help Mexico deal

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 18:11 2017 Saturday ,23 September

Doctor provides advices to families

GMT 11:11 2017 Sunday ,24 September

The dark side of new tourism hope

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday