India`s state refiners plan to buy less Iranian oil in 2017/18 compared with the last fiscal year, Oil Minister Dharmendra Pradhan said on Wednesday.
Iran has offered a credit period of 60 days for oil purchases in the current fiscal year, Pradhan told lawmakers in a written response. In 2016/17, Iran had offered 90 days credit period.
The minister said state oil refiners import oil as per commercial and operational consideration. He did not elaborate further.
India`s state refiners have cut oil import plans from Iran by a quarter in the year to March 2018, sources earlier told Reuters.