(Persia Digest) - India’s second largest refiner by capacity, Bharat Petroleum Corporation Ltd (BPCL), plans to import 1 million barrels of Iranian oil in both February and March after a gap of three months, said R Ramachandran, director refineries of BPCL.

Vikas Srivastava writes in the Financial Express that the company believes Iranian oil is the best oil to source at present given the freight, insurance and delivery benefits they provide.

Read more:

India reiterates imports of Iranian oil despite sanctions

Iran and India continue economic discussions

State-owned Indian company buys Iran oil after three months

“It gives us a benefit of 60-70 cents per barrel. For any competitor they will have to first match them before they can make any inroads,” Ramachandran said.

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