Tag Archives | Mangalore Refinery and Petrochemicals (MRPL)

India Drops Plan to Buy UAE Oil, Turns to Iran

India plans to buy 6 million barrels of Iranian crude oil after its talks with the United Arab Emirates’ national oil company for supplies came to a close over commercial terms, industry sources said. Three industry sources with direct knowledge of the matter said India would buy 6 million barrels of Iranian Mix crude from […]

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 […]