IOC not hit by Iran crude payments row
New Delhi   14-Jan-2011

Indian Oil Corp has so far been unaffected by an oil payments row with Iran but could turn to the spot market if there is any disruption to imports, chairman B M Bansal said on Thursday. “IOC is not buying much of its crude share from Iran,” he said. “So far we are not affected.” He said IOC buys about 1 million tonnes of crude oil from Iran, out of the roughly 40 million tonnes it imports each year.