Home » Essar settles $500 mn Iran oil bill

Essar settles $500 mn Iran oil bill

Oil & Gas
July 1, 2016July 1, 2016
Essar settles $500 mn Iran oil bill
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Essar Oil, the top Indian buyer of Iranian oil, in June cleared $500 million of a debt owed to Tehran, two sources with direct knowledge of the matter have said. Essar, which operates a 400,000 barrels per day oil refinery at Vadinar in Gujarat, owed about $3 billion to Iran for oil purchases made when tough Western sanctions had choked banking channels.

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