Senior officials on Monday had said that Indian oil companies have optional volumes built in their annual crude oil purchase contracts with suppliers like Saudi Arabia and Iraq that will be more than enough to make up for any shortfall in supplies from sanctions-hit Iran.
from Times of India https://timesofindia.indiatimes.com/business/india-business/insurance-companies-not-covering-storage-of-iranian-oil-says-indian-oil-official/articleshow/66237339.cms
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