Indian oil refineries pay $700 million to Iran
Oct 13, 2015, 18:32 IST
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Essar Oil, Mangalore Refinery and Petrochemicals and other Indian refineries paid the second installment of $700 million to Iran today.This is the final installment before India eases international sanctions against the Persian Gulf country.
Essar Oil paid a whopping $338 million and MRPL payed a hefty $299 million. IOC paid another $60 million while Hindustan Petroleum Corp (HPCL) paid $3 million.
Today’s payments came on top of $700 million the four refiners had cleared on September 30.
Image credit: Indiatimes