Indian refiners could offer Iran some respite at least for the next few quarters as the South Asian crude oil importers are keen to adhere to their term supply contract obligations with the Persian Gulf producer, undeterred by Washington’s efforts to restrain Tehran’s oil sales. The US’ re-imposition of sanctions on Iran has exerted little impact on the trade flows between India and the OPEC producer so far. India’s state-run Bharat Petroleum Corp. Ltd., for one, is set to receive its regular monthly term crude oil cargo from National Iranian Oil Company in the coming days. BPCL’s 190,000 b/d Kochi refinery on the west coast of India will receive 130,000 mt of its monthly term Iranian crude oil for May, trade sources with knowledge of the matter told S&P Global Platts last week. Indian state-run refiners typically source their crude oil requirements through term contracts with a host of […]