By Micah HalpernI've Been Thinking:
The Hindustan Petroleum Corp Ltd has announced that they will once again be importing oil from Iran.
HPCL is the largest oil refinery in India. They only stopped importing Iranian oil in April when it became impossible to insure ships transporting oil from Iran to India.
India is the second largest importer of oil in the world. They are also the second largest consumer of oil. They import crude and refine it.
Soon, they will probably outstrip China for the title of the World's Largest Importer and Worlds Largest Oil Consumer.
HPCL is convinced that the new agreement signed by the 5 +1 will allow them the ability to freely, safely and legally get oil from Iran.
If they are correct - and there is no reason that HPCL would jeopardize their ships and their product - it was not included in the agreement that was made public.
It makes one wonder ...
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