May 21, 2016, 12:17 PM

NIOC resumes oil sales to Italy’s Saras

NIOC resumes oil sales to Italy’s Saras

TEHRAN, May 21 (MNA) – An NIOC official has announced the launch of Iranian crude oil sales to the Italian Saras SpA.

Executive Director for International Affairs at National Iranian Oil Company (NIOC) Seyed Mohsen Ghamsari, while describing the latest status of oil sales to Italian firms, said “the agreement to ship Iran’s crude oil to Saras ApA of Italy has become operational.”

He stressed that the first crude shipment will be soon delivered to the Italian company adding “the volume of oil sales to Saras in the initial contract is 60 to 65 thousand barrels per day.”

“The deal begins with a daily amount of 30 to 35 thousand barrels while the figure would reach a high of 65 thousand barrels in the absence of obstacles,” added the official.

In response to a question on the possible reasons for the delay in crude exports to Eni of Italy as one traditional customer of Iran’s oil in Europe, Ghamsari said “Iran is completely ready to resume oil sales to Eni SpA and NIOC perceives no barriers to this end.”

The official emphasized that the conditions in Eni have changed over the past four years as the Italian company is no more an upstream oil firms.

“Eni SpA has sold most of its refinery shares in recent years,” highlighted the official reiterating “consumption and demand on the part of the Italian firms have declined considerably; a trend which has influenced Iran’s oil sales to Eni.”

Managing director of National Iranian Oil Company (NIOC) Roknodin Javadi had recently stated that “final negotiations with Eni of Italy have been held and the oil export deal with the Italian company will soon become operational.”

Deputy oil minister had stressed that about 30 to 35 per cent of Iran’s crude sales are currently deployed to European markets adding “in other words, oil export volume is expected to reach 600 thousand barrels per day in coming days.”

 

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News ID 116724

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