Ahead of PM Modi’s visit, Indian refiners clear part of $6.4 bn dues to Iran

Ahead of PM Modi’s visit, Indian refiners clear part of $6.4 bn dues to Iran

Ahead of Prime Minister Narendra Modi’s maiden visit to Iran, Indian refiners have made first euro payments in four years to clear a part of the USD 6.4-billion in past oil dues. Mangalore Refinery and Petrochemicals Ltd (MRPL) has paid USD 500 million and Indian Oil Corp (IOC) USD 250 million over the past two days, sources with direct knowledge of the development said Read more

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