Indian refiners are holding back from ordering Iranian oil for loading in May pe...
NEW DELHI - Indian refiners are holding back from ordering Iranian oil for loading in May pending clarity on whether Washington will extend a waiver from U.S. sanctions against the OPEC-member, four sources said.In November, U.S. President Donald Trump withdrew from the 2015 Iran nuclear deal and re-imposed broad economic sanctions.
India hopes to get clarity in seven to 10 days on any extension of the waiver, as well as the amount of oil that could be purchased if an extension is given, the sources said. Under the current waiver, India can buy about 300,000 bpd of Iranian oil - about half the amount before the sanctions were imposed - and New Delhi wants to keep buying Iranian oil at that level, Indian sources said last month.
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