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Refiners to pay 1st tranche of $700 mn to Iran

Oil & Gas
October 1, 2015October 1, 2015
Refiners to pay 1st tranche of $700 mn to Iran
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India is to pay Iran $700 million to clear one-tenth of oil dues in the last week of September, the first payment this year ahead of easing of international sanctions against the Persian Gulf country. Mangalore Refinery and Petrochemicals (MRPL) will pay $300 million, while Essar Oi will clear a little over $300 million in dues on September 30, according to reports. HPCL-Mittal Energy (HMEL) and Hindustan Petroleum Corp (HPCL) will be the other refiners which will clear part of their outstanding.

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