India plans oil import from Iran to cut import bill After Iran Halts its Tankers carrying oil from I

[modern.fakir]

India plans oil import from Iran to cut import bill, CAD

ANS | Aug 28, 2013, 05.35PM IST

NEW DELHI: The oil ministry has worked out a plan to save $22 billion in the oil import bill from Iran thus helping reduce the current account deficit (CAD), petroleum minister M Veerappa Moily has said.

"Oil (imports) is one of the components responsible for CAD. The prime minister has told us to save $25 billion in the import bill. As of today, we have pieced together a plan to save $22 billion in import bill," Moily said.

He said the savings would be around one percent of the GDP.

Moily was talking to reporters Tuesday at an event to present a cheque for Rs.5 lakh to the widow of Arjuna awardee sportsman late Makhan Singh.

Senior oil ministry sources told IANS that the plan includes renewing imports from sanctions-hit Iran, which India pays in rupees thereby saving foreign exchange and reducing the CAD.

Officials calculate that importing, for instance, 10 million tonnes oil from Iran means saving $10 billion in foreign exchange outgo. During the last fiscal, India imported 13.1 million tonnes of oil from Iran, down from 18.11 million tonnes of 2011-12.

After not buying any oil from Iran in first four months of the current fiscal, imports were resumed this month with state-run Mangalore Refinery and Petrochemicals getting the first tanker-load.

In view of the current volatility of the rupee against the dollar, India is discussing with Iraq the possibility of trade in local currencies, which would help insulate India's oil imports from Iraq also.

http://timesofindia.indiatimes.com/...-cut-import-bill-CAD/articleshow/22119872.cms

 

[modern.fakir]

See this is the effect of an honest and honourable leadership on the entire world. The Iranian leadership is honourable and honest to its people so when it takes a principled stand like it did in the case of the environmental leak of the Indian tanker the INdian government giving into the pressure has ALSO agreed to Import OIL from Iran :lol::lol:

This is what an honourable leader can do and the effects can be seen in the region already with Iran. (bigsmile)

 

[Fatema]

To phir apne daddy ki baton mein kiyun aa gae?? ab jab Indian currency rock bottom hit ker chuki tab hosh aya. . obviously Iraq import indian rupees me to nahin hoti ho gi. . .ab daddy America Indian love me itne andhe bhi nahin huwe k Indian rupee k badle oil faraham karein. . . so back to Iran. :P

 

[sanu key]

see this is the effect of an honest and honourable leadership on the entire world. The iranian leadership is honourable and honest to its people so when it takes a principled stand like it did in the case of the environmental leak of the indian tanker the indian government giving into the pressure has also agreed to import oil from iran :lol::lol:

This is what an honourable leader can do and the effects can be seen in the region already with iran. (bigsmile)

array fakir bhai aap ne aik ghaltie saay mistake karde, india nahie endia:).

 

[modern.fakir]

Zara "Dhiraj" rakho aista aista sub kaam hojayega [hilar][hilar][hilar]

array fakir bhai aap ne aik ghaltie saay mistake karde, india nahie endia:).

 

[Dhiraj Kumar]

Everyone looks for their benefits.
If india can't afford to spend dollars then it
Must buy oil from alternative sources.
Question is : what ll india barter for oil? Rice/wheet??

Daady America to Pakistan ka hai. India or even china had reduced oil dependency from Iran. Economic sanctions against Irani companies hinder any corporations including sinopec in buying Irani crude. At the end barter system can work only if both the country are selling equal values of net products.

siasat.pk trollers ki duniya hai.
fukira ka gaana moti ma ke liye
https://www.youtube.com/watch?v=9UDkYz64ehA

 

[modern.fakir]

Yeha but right now this is an insult that Iranians twisted your arms by holding back your tanker and then you decided to buy oil from them(bigsmile)

US is your daddy as well and not to forget the UK that gives yo toilet aid [hilar][hilar][hilar]

Everyone looks for their benefits.
If india can't afford to spend dollars then it
Must buy oil from alternative sources.
Question is : what ll india barter for oil? Rice/wheet??

Daady America to Pakistan ka hai. India or even china had reduced oil dependency from Iran. Economic sanctions against Irani companies hinder any corporations including sinopec in buying Irani crude. At the end barter system can work only if both the country are selling equal values of net products.

siasat.pk trollers ki duniya hai.
fukira ka gaana moti ma ke liye
https://www.youtube.com/watch?v=9UDkYz64ehA

 

[Dhiraj Kumar]

Yeha but right now this is an insult that Iranians twisted your arms by holding back your tanker and then you decided to buy oil from them(bigsmile)

US is your daddy as well and not to forget the UK that gives yo toilet aid [hilar][hilar][hilar]

Fakira, USA has never been ally of India.

They don't even have any armed presence in India. They don't operate drones, blackwaters either.

UK has strong bilateral investment with India, with Indian and its companies being second largest investors in UK.
The aid is merely to score brownie points of goodwill, with motivation of strong return. Pakistan is the biggest recipient of one sided UK aid.

Iranians cant armtwist India, nor do they wish to. India wants cheap oil and they are good option. Its win win for both country.

 

[modern.fakir]

Apparently try making your government understand that :). It is hand in glove and has admitted that India is an ALLY of the US.

You helping US in Afghanistan

You are securing Nuclear deals with them

You are securing arms from them

You are building cultural partnerships

In state relations you dont do any of the above with an ENEMY state :lol::lol:

I seriously dont know which planet your on !

UK's aid to Pakistan is also in lieu of a higher return in the Future (bigsmile)...BUT they have no designated TOILET AID for Pakistan [hilar][hilar][hilar][hilar]

Oh and INdia did offer the US bases for the invasion of Afghanistan and the US deals with India through Israel. It is an open fact that Israeli drones and even planes have been seen parked at Indian Airforce Hangars in Kashmir and in that region beyond.

Fakira, USA has never been ally of India.

They don't even have any armed presence in India. They don't operate drones, blackwaters either.

UK has strong bilateral investment with India, with Indian and its companies being second largest investors in UK.
The aid is merely to score brownie points of goodwill, with motivation of strong return. Pakistan is the biggest recipient of one sided UK aid.

Iranians cant armtwist India, nor do they wish to. India wants cheap oil and they are good option. Its win win for both country.

 

[Dhiraj Kumar]

Apparently try making your government understand that :). It is hand in glove and has admitted that India is an ALLY of the US.

You helping US in Afghanistan

You are securing Nuclear deals with them

You are securing arms from them

You are building cultural partnerships

In state relations you dont do any of the above with an ENEMY state :lol::lol:

I seriously dont know which planet your on !

UK's aid to Pakistan is also in lieu of a higher return in the Future (bigsmile)...BUT they have no designated TOILET AID for Pakistan [hilar][hilar][hilar][hilar]

Oh and INdia did offer the US bases for the invasion of Afghanistan and the US deals with India through Israel. It is an open fact that Israeli drones and even planes have been seen parked at Indian Airforce Hangars in Kashmir and in that region beyond.

Exactly, India has a balanced relationship with USA. All those points you mentioned equate to that. India is not giving bases to usa.

India is 10 times bigger market for UK with high potential returns while pakistan is a botheration for them( They aid you so that they
get to see fewer london bombings ; your govt/isi control those crazy youths from doing jihad in uk (bigsmile)(bigsmile). Well it's good return ;)).

Ok I should call it Terrorist aid ;) for extremist in pakistan to not to take flights to uk !
They of-course don't want to see such brainwashed future british citizens

 

[desicad]

misleading thread title.......the decision to import more oil has no relation to the oil tanker issue......it just so happened that the rupee fell in hurry to an all time low yesterday and still weak........this prompted them to import more oil from Iran so that payment can be made in Rupees instead of converting to Dollars.......
if for the sake of the argument we assume that both the issues are related then the accusation (on the other thread) that Iran has stopped the oil tanker because of the leakage goes out of the window.......so there was no leak and it was just a drama to force India to buy more oil........

 

[Dhiraj Kumar]

@Desi

Fakeera ko troll karne de!! He is superb free entertainment on siasat.pk !!

 

[modern.fakir]

So a balanced relation is not an ALLY but with an enemy ??:lol:

You have just conceded that you have a relationship with USA and an ALLIED one too :)

Pakistan is also a 3 times larger market for the UK and its stock market is doing much better than yours which is why the UK is investing [hilar][hilar][hilar]...If you ever manage to step out of your temple indoctrination then you maybe even to see it. :lol::lol: And this is the case when we are fighting the consequences of an INvasion in afghanistan and India keeps on sending terrorists and staging false flags to implicate Pakistan ...imagine the stock market once all this ends ...the UK and other countries are investing for that time (bigsmile)

London bombings were done by british citizens not Pakistanis and they have been punished for it (bigsmile) Just like the mumbai carnage and delhi parliament attacks were done by the Indians on themselves for a self implication. Pakistani citizens are the most peacefull people when abroad and are rarely ever involved minor immgration violations but never anything else (bigsmile)

On the other hand we know how the australians dealt indians down under [hilar][hilar][hilar]

Exactly, India has a balanced relationship with USA. All those points you mentioned equate to that. India is not giving bases to usa.

India is 10 times bigger market for UK with high potential returns while pakistan is a botheration for them( They aid you so that they
get to see fewer london bombings ; your govt/isi control those crazy youths from doing jihad in uk (bigsmile)(bigsmile). Well it's good return ;)).

Ok I should call it Terrorist aid ;) for extremist in pakistan to not to take flights to uk !
They of-course don't want to see such brainwashed future british citizens

 

[modern.fakir]

Why does everything "just so happen" in India ??? (bigsmile)....theirs no denying that this issue was being worked out BUT the indian government citing the tough stance of the iranians on the tanker issue and their declining economic condition decided to expedite the matter in an effort to not lose an ally in the region (bigsmile)...Iran's arm twisting has worked.

The oil leak was the issue as India has also halted Iranian ships as a pretext to put pressure on Iran. It is now only reaping what it sowed [hilar][hilar][hilar]

misleading thread title.......the decision to import more oil has no relation to the oil tanker issue......it just so happened that the rupee fell in hurry to an all time low yesterday and still weak........this prompted them to import more oil from Iran so that payment can be made in Rupees instead of converting to Dollars.......
if for the sake of the argument we assume that both the issues are related then the accusation (on the other thread) that Iran has stopped the oil tanker because of the leakage goes out of the window.......so there was no leak and it was just a drama to force India to buy more oil........

 

[deltaforce]

@Desi

Fakeera ko troll karne de!! He is superb free entertainment on siasat.pk !!

kallanwa is die hard india fan ! :lol::lol::lol::lol::lol:

but we should appreciate how much effort this poor beggeratad puts relentlessely in service of india . thank you mangan faqir .[hilar][hilar][hilar][hilar][hilar][hilar][hilar][hilar]

 

[hasan khan bachgoti]

array fakir bhai aap ne aik ghaltie saay mistake karde, india nahie endia:).

how bad ! How would you like if we call you paki, porki, *********, or Padistan or Padistani .better stay away from foolish joking.

 

[Imranpak]

So those warnings to Iran a few days back were cheap talk after all:lol::lol:

 

[Imranpak]

how bad ! How would you like if we call you paki, porki, *********, or Padistan or Padistani .better stay away from foolish joking.

Then we'll call you g@ndustanis, g@ndus, piss drinkers, bhindians, slumdogs, rapists and bhRATis together with others that I won't mention here as they are so degrading. We have many ways to upset and humiliate you as well so shut the fk up! On a majority Pakistani site there is only going to be one winner that is us!