Tehran, Oct 18, IRNA - India will pay Iran $900m in two tranches beginning next week to clear part of the past dues for crude oil it buys from the Persian Gulf nation. This payment will be on top of $1.65b it had paid in June/July to clear more than one-third of over $4b in dues that had accumulated, PTI reported. Indian refiners, namely Mangalore ...

Indian Oil Corp. (IOCL)and two other state-run refiners said they will defer resuming purchases of Iranian crude by at least three months, having failed to get reinsurance for shipments afterEuropesaid it would relax a coverage ban. Indian Oil, which has an accord to buy 24,000 barrels a day fromIranin the year ending March 31, halted purchases after ...