VOL. XXXII

NO. 50

18-SEPTEMBER-1989

IRAN

NIOC to Receive $325mn from Ashland Oil

Ashland Oil Inc., the Kentucky oil refiner and marketer, has agreed to paythe National Iranian Oil Company (NIOC), $325mn in a settlement of a 10-yeardispute over crude oil purchases. The company, which has already anticipatedpaying for that oil by carrying a current liability of $283mn, is to make aextra pretax charge of $42mn in the quarter ending 30 September as a result ofthe settlement. According to an Ashland...