 "India receives its first oil parcel from Iran")
India has received the first parcel of Iranian oil to partly fill its strategic storage in southern India at Mangalore Refinery and Petrochemicals Ltd (MRPL) that imported the very large crude carrier (VLCC), said the company website.
MRPL received shipments of 2 million barrels of Iranian oil in the VLCC Dino.
India will fill half of the storage with 6 million barrels of Iranian oil, while continuing talks with United Arab Emirates and Saudi Arabia for meeting the remaining demand.
A second parcel to be procured by Bharat Petroleum Corp is scheduled to arrive around October 25, according to sources with direct knowledge on the matter.
India, which is seeking to hedge against energy security risks as it imports about 80 percent of its oil needs, is building emergency storage in vast underground caverns at three locations in southern India to hold a total of 36.87 million barrels of crude, enough to cover almost two weeks of demand.