Indian Oil Minister to Visit Iran in April

Indian Oil Minister Dharmendra Pradhan is scheduled to visit Iran on April 6-7, official sources in New Delhi said.

Accompanied by ONGC Videsh Ltd (OVL) Managing Director Narendra K Verma and Indian Oil Corp (IOC) Chairman B Ashok, Pradhan’s visit is aimed at engaging with leadership of the oil and gas rich nation that has just come out of international sanctions, PTI news agency reported.

This will be the first visit by an Indian minister since the US and western sanctions were lifted against Iran in January.

It said that New Delhi is looking to increase engagement with sanction- free Iran by raising oil imports and possible shipments of natural gas. It also wants rights to develop Farzad-B gas field in the Persian Gulf that was discovered by OVL.

Sources, however, said a deal for the field may not be signed during Pradhan’s visit as the Iranian Parliament is yet to approve new Iran Petroleum Contract (IPC) under which the Farzad-B field is to be given to OVL-led consortium.

(Source: Shana)

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