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Indian oil sales: Looking for alternatives

Following Iranian foreign minister Mohammad Javad Zarif’s visit, Indian officials said the government was expected to make a final decision on Iranian oil imports after the seven-phase general election was over, with results expected after 23 May. Replacing Iranian crude is a problem for Indian refiners, market specialist Platts reported, as Iran allows 60 days credit on oil purchases, along with some freight discounts, which make it very attractive.

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