Essar Oil to trim Iran imports once Rosneft deal is finalized Iran fourth-biggest supplier to India in April-June period Iran’s biggest oil buyer in India is ready to throttle back imports from the Persian Gulf nation once a new supply deal kicks in. Essar Oil Ltd. expects to lower purchases from Iran after shipments from OAO Rosneft begin once the Russian state producer completes a deal to buy a stake in the Indian company, according to Lalit Kumar Gupta, Essar Oil’s chief executive officer. The refiner doesn’t plan to import any crude under the agreement this year and it’s undecided which country or project Rosneft will source the crude from, he said. “When they are on board we will see how much to buy, what to buy” from Rosneft, Gupta said in an interview. The company will buy less from Iran when the supplies begin, he said. Essar bought […]