Tehran Urges New Delhi to Repay Oil Debts

Officials from Iran and India held negotiations in New Delhi on bilateral crude oil transactions during which the Iranian side demanded settlement of oil sale arrears as the Indian side was willing to purchase additional quantities following removal of anti-Iran sanctions, said an official in the National Iranian Oil Company (NIOC).

Settlement of Iran’s unpaid oil revenues and reviewing the crude oil market topped agenda of the talks in India last week,” NIOC director of international relations, Mohsen Qamsari, told Shana.

There was no discussion on price or quantity of oil to be exported to India,” he said, adding that as a traditional customer of Iran’s crude, India has already expressed its willingness to increase imports from Iran.

The Ministry of Petroleum of Iran is following up settlement of its oil revenues from exported crude oil which have remained unpaid because of sanctions so that the reimbursed sum could be directed to the development of the country’s oil and gas industry in the post-sanction era.

(Source: Shana)

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