Ahead of the return of the U.S. sanctions on Iran, India’s state refiners boosted their Iranian oil purchases, pushing up Indian oil imports from Iran by 30 percent from June, to a record 768,000 bpd in July, Reuters reported on Thursday, citing preliminary tanker arrival data it had obtained from trade sources. The arrivals included some crude oil shipments loaded in June that docked in India in July. State-run refiners accounted for around four-fifths of India’s oil imports from Iran. India’s oil imports from Iran last month soared by 85 percent from the 415,000 bpd shipments in July 2017, according to the data obtained by Reuters. This time last year, Indian refiners had slashed imports from Iran in a possible retaliation for Tehran not awarding the development of a gas field in Iran to Indian firms. But as the new Indian fiscal year began in April, refiners have been […]