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Hungary’s MOL buys KHARG Terminal crude

MOL Group, Hungary’s largest oil company, has purchased a crude oil cargo from Iran for the first time in the post sanction era

Hungary’s MOL buys KHARG Terminal crude
(Sunday, October 16, 2016) 23:32

MOL Group is a leading international, integrated oil and gas company from Hungary and purchased a 140,000-ton shipment of Iranian heavy crude to be delivered on October 23.

Executive Director for International Affairs at National Iranian Oil Company (NIOC) Seyyed Mohsen Ghamsari had previously noted that an agreement has become finalized to sell one million barrels of Iranian crude to the European country in the coming month.

The export cargo in scheduled to be transferred from Iran’s Kharg Island to a terminal in Croatia.

"Since sanctions against Iran are lifted, Iranian crude has become part of these alternative crude grades MOL is actively considering for use in its refineries," an MOL spokeswoman was quoted as saying by Reuters.

 

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