Source: Moj News

Oil supply to continue as Iran and India are expected to finish settling their debt arrears, an Iranian official said.

Iran will continue to supply crude oil to Indian refineries in September as they are expected to finish settling their debt arrears this month, National Iranian Oil Co.’s international affairs director, Mohsen Qamsari said.

About $4.2 billion of the debt owed by four Indian refineries was settled on Aug. 26 and the rest is expected to be paid back by the end of the month, Qamsari further added.

“Exports to these refineries would continue for the rest of this month and in September,” he said.

Iran supplies 400,000 barrels of oil a day to India.

... Payvand News - 08/30/11 ... --