Reliance cuts 2009 Iran crude imports 25 pct

DUBAI/SINGAPORE - India’s Reliance Industries RELI.BO will import about 25 percent less crude oil on contract from Iran in 2009, sources familiar with the supply deal said on Monday.

By (Reuters)

Published: Mon 23 Feb 2009, 3:50 PM

Last updated: Thu 2 Apr 2015, 3:56 AM

Reliance will buy 90,000 barrels per day (bpd) of Iranian crude on contract this year, down from 120,000 bpd in 2008, oil industry sources said.

It was unclear why India’s largest refiner would cut contract purchases from the fourth-largest oil exporter in a year when Reliance needs more crude to feed its giant new 580,000 barrels per day (bpd) Jamnagar refinery.

Reliance did not respond to Reuters enquiries on the reduction, while Iranian officials declined to comment.

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