NO. 34



Iran to Supply India with 40,000 b/d of Crude Oil

The National Iranian Oil Company (NIOC) has recently signed an agreement forthe sale to India of some 40,000 b/d of crude oil during India's currentfinancial year, which began in April. India may lift an additional 20,000 b/dlater in the year. India is currently moving towards term deals and away fromthe spot market and has term agreements for some 350,000 b/d out of anticipatedcrude oil imports of 530,000 b/d for...