Egypt is struggling to pay for US dollar-priced oil product and liquefied natural gas (LNG) imports, cancelling purchases, and asking suppliers to extend payment terms amid an acute foreign currency crisis, industry sources said.
Indian refiners paid $400 million to Iran ahead of a November 24 deadline of the interim deal with six world powers that allows Tehran to recover part of its overseas frozen oil revenues, two industry source privy to the development said.
Indian refiners completed payment of $900 million in frozen oil revenues to Iran on Wednesday under an interim deal that eased some sanctions against Tehran over its disputed nuclear work, said industry sources.
Iran and the US, C
South Korea will transfer $550 million to Iran in its first back oil payment under an interim nuclear deal that eases sanctions on Tehran, sources with direct knowledge of the matter said on Thursday.
The payment on Friday will co
India is ready to pay $1.5 billion to Iran to clear part of a backlog of payments for shipments of oil following the partial easing of western sanctions on Tehran, a senior Indian government official said.
In a Nov. 24 deal with s
Iraq's Finance Ministry has begun paying an initial $650 million to Iraqi Kurdistan for oil companies working in the autonomous region, Deputy Prime Minister Rosh Nuri al-Shawish told Reuters on Tuesday.
Baghdad and Kurdistan
Iran's oil flows to Greece have stopped this month, depriving the Islamic Republic of one of its most loyal European customers and leaving Greece with its financing troubles struggling to buy crude elsewhere.
An Iranian Oil Ministry source played down a report that Indian oil buyers had started paying for their crude through a bank in Russia as a new way to get around sanctions-related difficulties in making international bank transfers.
DNO International said it did not yet have a payment arrangement for oil produced from its Tawke field in Iraq's Kurdistan, which has been running since June and pumps 40,000 barrels per day (bpd).
The Tawke field will soon produce 50,000