Iran increasing freight discount to boost oil sales to India
Opec member eyes Asia as it competes with rivals Iraq and Saudi Arabia; faces threat of more US sanctions
Mon, Feb 19, 2018 - 5:50 AM
An Iranian oil dock as seen from a ship. Iran, which used to be the second-biggest oil supplier to India before sanctions, is gradually raising its market share in the world's third-biggest oil consuming nation.
IRAN has offered to raise the freight discount on oil sales to India in return for New Delhi agreeing to boost imports, as the Opec member is keen to eat into the market share of other producers including top rivals Saudi Arabia and Iraq.