Iran rules out China, South Korea oil debt

Oil&Gas Materials 9 August 2011 14:04 (UTC +04:00)

Azerbaijan, Baku, August9 / Trend /

Iran continues to export crude oil to China and South Korea. There have been no interruptions in oil payments by these two countries, Mehr News Agency reported, quoting Deputy Oil Minister Ahmad Ghalebani as saying.

Iran's Deputy Oil Minister Ahmad Ghalebani rejected news of China and South Korea's multi-billion-dollar oil debts.

"Currently Iran continues crude oil exports to these two Asian countries as usual, while oil payments have been received without interruption", he said.

Previously the Governor of the Central Bank of Iran (CBI) Mahmoud Bahmani rejected news of China's $30 billion debt over Iran's oil exports, adding that India's debt to Iran is considered the biggest debt.

Iran is China's third crude oil supplier, exporting more than $17 billion in oil and gas to china.