An Iranian national flag flutters during the opening ceremony of the 16th International Oil, Gas & Petrochemical Exhibition (IOGPE) in Tehran April 15, 2011. REUTERS/STR
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Iran will also reduce the discounts it offers on the shipping of crude to 60 percent from 80 percent, they added.Iran and India were aiming to conclude an agreement on developing the field by February.Indian state-run refiners told Iran last month that they would cut oil purchases by 3 million tons during the financial year that started April 1, the people said. Reuters earlier reported Indian state refiners will cut oil imports from Iran by a fifth.India's Oil Minister Dharmendra Pradhan said April 6 that it's up to the state refiners to decide on Iran crude volumes.
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