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Market Chatter: Indian Oil Refiners in Talks to Buy Iranian Oil if US Extends Waivers

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India's state oil companies are said to be in talks with traders marketing Iranian crude, in case the U.S. extends waivers beyond August or eases restrictions, according to a Bloomberg report on Tuesday, citing sources.

However, Indian Oil (NSE:IOC, BOM:530965), Bharat Petroleum (NSE:BPCL, BOM:500547), and Hindustan Petroleum (NSE:HINDPETRO, BOM:500104) are in no hurry to buy Iranian oil as they have fully contracted shipments required through August, the report said.

The oil refiners may procure some Iranian cargoes if the discounts are significant, the sources told the news agency, adding that the discussions were aimed at securing access to Iranian barrels in case of any unforeseen developments.

Indian Oil, Bharat Petroleum, and Hindustan Petroleum did not immediately respond to comment requests from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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