Iran says could halt oil supplies to India in Aug

National Iranian Oil Co (NIOC) has said it will halt supplies to Indian refineries in August if the two countries have still not found a way to make payments for their $12 billion a year oil trade, three industry sources said on Friday.

NIOC, which exports about 400,000 barrels per day (bpd) to India - 12 percent of its needs - set the deadline on the long-running discussions in a letter dated June 27 to Indian refiners, the sources, who requested anonymity, told Reuters. (Reuters)