India seems to hold the upper-hand over Iran in a dispute over payments for crude oil shipments that has been rumbling for over six months.
Iran supplies India with 12-14 per cent of its total imports, making it India’s second biggest provider after Saudi Arabia. But a payments dispute has left India owing debts estimated at anywhere between $2-6 billion. In effect, this means India has been importing Iranian oil on credit since December 2010.
Middle East nuclear, RWE, Chinese wind turbines
In this week’s podcast: We talk to Deloitte’s head of nuclear, Daniel Grosvenor about nuclear power plans in the Middle East; we look at German utility RWE and the possible sale of UK subsidiary Npower; and, we discuss China’s steps into the European wind market with the country’s biggest turbine maker securing an Irish wind farm deal worth €1.5bn.
Presented by David Blair with Pilita Clark and Vincent Boland.
Produced by LJ Filotrani