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 Corp (HPCL) paid $3 million.

(Source: The Economic Times)

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