NEW DELHI, July 6 (UPI) -- New Delhi said it was optimistic it could ensure uninterrupted oil supplies despite debt warnings from Iran, the Indian petroleum minister said.
The National Iranian Oil Co. during the weekend warned India that oil exports would be halted if New Delhi couldn't find a way to pay its debt. Tehran has supplied crude oil to India on credit since December because New Delhi can't find a way to pay for oil while clearing international sanctions on Iran.
Indian Petroleum and Natural Gas Minister Jaipal Reddy said the government was looking for ways to keep the oil moving to the country.
"We are sorting it out," he was quoted by Indian newspaper The Hindu as saying. "We are optimistic about finding a solution and ensuring uninterrupted supplies."
In a letter to Indian officials, the NIOC said oil exports could halt next month. A source told the semiofficial Fars News Agency, however, that the letter "was not a formal warning" from the oil company.
New Delhi carries around $6 billion in debt with Iran for the 400,000 barrels per day supplied since December. India is the second-largest purchaser of crude oil from Iran.
