News Brief | October 2014
India ships in 50percentage more Iranian oil in January-August
Indian imports of Iranian oil rose by nearly half to 271,000 barrels per day (bpd) in January-August from a year ago, when refineries cut purchases due to worries about insurance coverage for processing crude from Tehran, data from trade sources shows. World powers and Iran are working to resolve a decade-old dispute over the OPEC nation's nuclear programme, with an interim deal that eases some sanctions on the country extended by four months to late November. India, the Islamic State's top client after China, had boosted imports in the first quarter of this year to make up for the cuts in 2013 and to hit its target of importing 220,000 bpd from Iran in the fiscal year to March 31.