News

Indian refiners will settle all oil debts to Iran by the end of this month, a business daily reported on Sunday, quoting a senior oil official as saying the sanctions-related problem that held up billions of dollars of oil income was over. The head of international affairs at the National Iranian Oil Co(NIOC), Mohsen Qamsari, was quoted by Donya-ye Eqtesad daily as saying: "Upon an agreement between the NIOC and four Indian refiners, all their debts in arrears will be paid out by the end of August."