Tag Archives | Hindustan Petroleum Corp (HPCL)

Iran Offers India Oil Cargo Insurance, Ships

Iran is offering to insure oil cargoes to India after some local insurers stopped providing the service in the face of impending US sanctions, industry sources said, a move that would help Tehran continue supplying its second-biggest oil client. Several refiners in Asia, Iran’s key market for oil sales, are gradually reducing the amount of […]

India’s IOC Clears $510m of Iran Oil Dues

Indian Oil Corp (IOC), the country’s biggest oil firm, has settled $510 million of its outstanding oil dues to Iran, a senior official with the corporation said. IOC Director Sanjiv Singh said the company has paid $510 million out of the total outstanding of $621 million due to Iran in past oil dues, Press Trust […]

India Clearing Remaining Iran Oil Dues via German Bank

Indian refiners have started to settle the rest of their outstanding oil dues to Iran via State Bank of India and Germany-based bank Europaeisch-Iranische Handelsbank AG (EIH), a report said. In an attempt to speed up payment of billions of Iranian oil dues, Indian refiners are settling their debts via EIH as timely payment of […]

India Pays some Oil Dues ahead of Modi’s Visit

The Indian government on Saturday paid the first part of its outstanding oil dues to Iran ahead of a visit by the country’s prime minister to the Islamic Republic, a report said. According to a report carried by the Business Standard, Indian refiners cleared part of their $6.5 billion debt to Iran in euros through […]

India to Pay Oil Dues via European Banks

The Indian oil minister said the South Asian country is scheduled to pay an outstanding oil debt to Tehran via European banks. Iran and India have agreed to use European banks to process pending oil payments to Tehran, Dharmendra Pradhan told Reuters. “There is an agreement between (India and Iran’s) central banks. European banks will […]

India Pays $700m in Iran Oil Dues

By John Lee. A group of Indian refiners has paid the second instalment of $700 million to Iran to clear part of their outstanding oil dues, according to a report from The Economic Times. Essar Oil paid $338 million, while Mangalore Refinery and Petrochemicals (MRPL) remitted $299 million, IOCBSE paid another $60 million, and Hindustan Petroleum […]