Reliance says halted fuel sales to Iran last May

Reliance Industries Ltd (RIL), which operates the world’s biggest oil refining complex in India, said it had halted fuel sales to Iran from May 2009. Media reports on Tuesday quoted Iranian Ambassador to India Seyed Madhi Nabizadeh saying that the Islamic nation was continuing to import fuel from Reliance Industries Limited (RIL).

Reliance in a statement said: “From May 2009, Reliance Industries Ltd. (RIL) has stopped exports of refined products to Iran and our contract with the buyers explicitly prohibits Iran as a destination for any cargo loaded at Jamnagar.”

Reliance’s huge refining complex at Jamnagar in the western Indian state of Gujarat can process 1.24 million barrel per day of crude.

In January the U.S. Senate approved legislation that would allow President Barack Obama to penalise companies that export gasoline to Iran or help the Islamic republic expand its oil-refining capacity by, in part, denying them loans and other assistance from U.S. financial institutions.

Source:http://economictimes.indiatimes.com/news/news-by-industry/energy/oil-gas/Reliance-says-halted-fuel-sales-to-Iran-last-May/articleshow/5553614.cms

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