Indian Oil Companies Caught in US-Iran Tangle - India Renewable Energy Consulting – Solar, Biomass, Wind, Cleantech
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Well, you can’t have the oil and use it too, can you?

You’ll agree once you listen to this (source):

“Indian energy firms are finding themselves at the receiving end of the US government’s efforts to isolate Iran, with the US Senate recently passing a Bill advocating action against firms that have commercial ties with Iran.

While Oil and Natural Gas Corporation (ONGC), Indian Oil Corporation (IOC) and Oil India have oil and gas blocks in Iran, India’s largest private company Reliance Industries (RIL) exports limited quantities of petrol to Iran.

A bipartisan coalition of 25 Senators last month moved a legislation to penalise such companies. The legislation is aimed at strengthening Barack Obama’s efforts to stop Iran from making nuclear weapons through targeting foreign companies that sell motor fuel and other refined petroleum products to Iran.

“We know who these companies are — Shell, Vitol, BP and Reliance — and we need to give them a choice. You can do business with Iran’s $250-billion economy or our $13-trillion economy, but not both,” said Senator Jon Kyl, who was a part of the group that introduced the Bill.

Interesting. Whatever my pet peeves against the US is, let’s admit, the senator has a point. And he has made it really well. In simple words, he has said, “You have a choice, but sorry, you have no choice”.

Thank you.

About Narasimhan Santhanam (Narsi)

Narsi, a Director at EAI, Co-founded one of India's first climate tech consulting firm in 2008.

Since then, he has assisted over 250 Indian and International firms, across many climate tech domain Solar, Bio-energy, Green hydrogen, E-Mobility, Green Chemicals.

Narsi works closely with senior and top management corporates and helps then devise strategy and go-to-market plans to benefit from the fast growing Indian Climate tech market.


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