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Iran to cut oil sales incentives to Indian state refiners

Iran to cut oil sales incentives to Indian state refiners

Saturday, April 8, 2017, 7:50 PM

Iran is set to reduce the time it gives to Indian refiners to pay for oil they buy from it from 90 to 60 days as a retaliatory measure to India's decision to reduce Iranian oil imports. Iran will also lower discounts on crude oil shipping to 60% from 80%. The measures will make Iranian purchases costlier and less competitive.
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