India to continue Iran oil supplies: Reddy

March 13th, 2012 - 10:47 pm ICT by IANS  

Hyderabad, March 13 (IANS) India will continue its oil supplies from Iran, Petroleum Minister S. Jaipal Reddy said here Tuesday.

“We’ll continue to receive supplies from Iran,” Reddy said in answer to queries by journalists on whether India was planning to suspend oil supplies from Iran due to pressure from the US.

To a question on whether the global prices of oil could cross $150 per barrel, the minister said: “The fact is oil prices are going up globally, I don’t like to indulge in speculation.”

Asked about the possibility of a hike in petrol prices, Reddy refused to comment, saying: “I have nothing to say in regard to the proposal for increase in price of petrol and other products at this stage.”

Asked if a notice had been sent to Reliance on the dip in gas production in the KG basin, he said “Consultations are continuing, and I can’t set a time limit.”

Reddy was speaking to reporters on the sidelines of an event at the airport.

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