Despite the fact that India does not know
for certain whether it will be granted a waiver from US sanctions on Iran, two
Indian companies have placed orders to purchase Iranian crude in November,
Petroleum Minister Dharmendra Pradhan said.
India, the world’s third-biggest oil importer,
will buy 9 million barrels of Iranian oil in November, Reuters reported on
Friday, citing two industry sources.
On Friday, news agency PTI had quoted
sources to report Indian Oil Corp (IOC) and Mangalore Refinery and Petrochemicals
Ltd (MRPL) have contracted 1.25 million tonnes of Iranian oil for import in
According to the sources India and Iran
are discussing rupee payments and Iran can use rupee for paying for imports of
medicines and other commodities. Details of the payment mechanism would emerge
in the next few weeks, a source said.