 "India's Iran oil imports fall to 5-month low in August")
India's oil imports from Iran slumped 27% to a five-month low in August from a high base last year and ahead of a planned shutdown by two refineries, according to ship tracking data and a report compiled by Thomson Reuters Oil Research and Forecasts.
Essar Oil and Mangalore Refinery and Petrochemicals Ltd would shut units at their refineries for about a month from mid-Septemebr, leading to lower purchases from last month.
India shipped in about 198,800 barrels per day (bpd) of Iran oil in August, down 7.7% from July, the data showed. Despite the drop, India is still expected to raise imports as sanctions against the OPEC country ease.
In a pact clinched on July 14 between Iran and the United States, Germany, France, Russia, China and Britain, Iran would limit its controversial nuclear programme in exchange for a removal of economic sanctions.
Iran was India's second-biggest oil supplier in the fiscal year to March 31, 2007, but it slipped to seventh by last fiscal year as sanctions bit.
India, the world's fourth-biggest oil consumer and Tehran's top client after China, bought 21% less Iranian oil at 214,100 bpd in the first eight months of this year, the data showed.
April-August imports rose 21% to 266,000 bpd from a year ago.