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Iran beats oil sale record

IOTC managing director has announced that Iran has exported more than 7.1 million crude barrels in 48 hours setting a new record.

Iran beats oil sale record
(Friday, April 29, 2016) 22:27

Seyyed Pirouz Mousavi, the Managing Director of the Iranian Oil Terminals Company (IOTC), touched upon the latest status for the arrival of European oil tankers in Iranian terminals saying “upon the implementation of JCPOA and the recent visit of Iranian oil officials to Europe, oil exports to Europe were resumed in recent days.”

Recalling that removal of bans on exports of Iranian crude oil was among the provisions of the nuclear deal, Mousavi commented “in the first month after the sanctions relief, Iran’s oil exports has climbed by 400 thousand barrels per day.”

The official stressed that roughly 25 to 30 per cent of the rise in oil exports targeted traditional customers of the Iranian crude asserting “moreover, the rest amount has been shipped to new buyers.”

“Due to repairmen, renewal, reconstruction and modernization of facilities and harbors, IOTC is currently able to offer services to nine oil tankers simultaneously,” said the official emphasizing “over the past 30 hours, a total of 7.1 million barrels of crude have been loaded.”

He confirmed that with the arrival of new tankers, the new round of increased oil exports to European countries will soon get launched.

Managing director of IOTC estimated that in one month the amount of rise in oil export will reach more than 500 thousand barrels which surpasses the envisaged figure.

“Since insurance problems have been resolved recently, the National Iranian Tanker Company (NITC) is taking measures to carry oil to Europe,” concluded Mousavi.

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