TEHRAN (Tasnim) Indian Oil Corp (IOC), the country's biggest oil firm, has settled $510 million of its outstanding oil dues to Iran, a senior official with the corporation said. IOC Director Sanjiv Singh said the company has paid $510 million out of the total outstanding of $621 million due to Iran in past oil dues, Press Trust of India reported ...

A new report says Indias largest oil company seeks to operate an Iranian oil field in the Persian Gulf. According to the Economic Times, Indian Oil Corp (IOC), has made a bid to operate and produce crude oil from the Iranian field as part of Indias efforts to boost energy ties with Iran. The report said another Indian firm, ONGC Videsh Ltd ...

State-owned Indian Oil Corp (IOC) plans to cut crude oil imports from Iran by over 23 per cent in the current year, Petroleum Minister M. Veerappa Moily said today. IOC imported 1.566 million tonnes of oil from Iran in the 2012-13 financial year. For the year beginning April 2013, it has entered into a term contract for import of 1.2 million tonnes ...