Iran Expects Oil Dues to be Settled Soon

By John Lee.

An official from Iran’s Ministry of Petroleum has confirmed that international oil companies (IOCs) have started paying the amounts owed to Iran for pre-sanction oil purchases.

Ali-Asqar Hendi added that the country expects to receive all the oil dues from foreign companies by April, with the exception for the amounts owed by Greek refineries, which will be collected over a longer period due to the current economic problems in that country.

Debtors include the UAE’s Emirates National Oil Company (ENOC), which owes Iran $5.3 billion, and Anglo Dutch energy giant Shell, which has started to repay more than $2 billion.

(Source: PressTV)

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