NEW DELHI: India imported about 4.7 million barrels per day (bpd) of oil in August, up 15.8 per cent from the same month last year, according to data from shipping and industry sources.

India, the world’s third-biggest oil consumer, cut imports from Iran in August by a third from July as the federal government delayed permission to state refiners to use Tehran’s tankers and insurance for oil purchases. Supplies from Saudi Arabia, Iraq and Iran made up nearly half of India’s overall imports in August.

The Middle East share of India’s total oil imports rose marginally in August from July, while that of African grades, led by lower shipments of Nigerian oil, declined to 13 per cent from about 18.5 per cent.

Reuters