India struggling to insure Iranian oil imports - minister

VIENNA Wed Jun 13, 2012 6:29pm IST

A worker counts currency notes at a petrol pump in Siliguri February 5, 2008. REUTERS/Rupak De Chowdhuri/Files

A worker counts currency notes at a petrol pump in Siliguri February 5, 2008.

Credit: Reuters/Rupak De Chowdhuri/Files

Related Topics

VIENNA (Reuters) - India is struggling to find a way to insure oil shipments from Iran after a European ban comes into effect from July 1, Oil Minister S. Jaipal Reddy told reporters in Vienna, where crude producers from OPEC meet on Thursday.

He said government institutions were considering the issue.

"We are struggling to find solutions, I cannot say beyond that," Reddy said, adding sovereign guarantees were "in the process of examination."

India has just secured a waiver from Washington to tighter sanctions on Iran aimed at curbing its nuclear programme after the world's fourth-biggest oil importer cut imports from Tehran, one of its biggest suppliers along with fellow OPEC members Saudi Arabia and Iraq.

(Reporting by Dan Fineren; Editing by Jo Winterbottom and William Hardy)

FILED UNDER:
  • Most Popular
  • Most Shared

Reforms Plan

REUTERS SHOWCASE

Border Talks

Border Talks

India names Ajit Doval as special envoy for China border talks.  Full Article 

WTO Deal

WTO Deal

U.S. seeks to step up India trade talks  Full Article 

Phone Masts

Phone Masts

American Tower to buy Bharti Nigeria phone masts for $1.1 billion  Full Article 

Infrastructure Plan

Infrastructure Plan

India targets private cash to build railways to its ports.  Full Article 

Shadow Banking

Shadow Banking

Reserve Bank planning more measures for NBFCs.  Full Article 

Auto Sector

Auto Sector

Hyundai Motor, Kia Motors lift 2014 global sales target on China, emerging markets  Full Article 

Oil Prices

Oil Prices

Some fund managers see oil falling to $60 without OPEC cut.  Full Article 

Project Shelved

Project Shelved

Jindal Steel shelves $10 bln project after coal setback.  Full Article 

Market Eye

Market Eye

Sensex, Nifty rise to record after China, ECB stimulus boosts risk appetite.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage