India Punishes Iran For Gas Field Decision Delay

India is wagging its finger at Iran for delaying the license decision on a major gas field. Asia’s second-biggest oil market will reduce the amount of crude that it imports from Iran by 20 percent in financial 2017/18, media reported, quoting sources from the Indian oil sector.The field in question, Farzad B, is estimated to contain over 350 billion cu m of natural gas, with its productive life seen at 30 years. Indian giant ONGC has submitted a $3-billion bid for the development of Farzad B, but Tehran is taking its time, waiting for rival—and…
Shares