Iran resumes oil export to Europe

Baku, February 15, AZERTAC

Iran has shipped crude oil to Europe for the first time in five years just a month after world powers lifted sanctions on Tehran in step with the landmark nuclear deal reached last July.

The oil shipment to Europe opened “a new chapter” in Iran’s oil industry, Rokneddin Javadi, Deputy Oil Minister said on Sunday, IRNA news agency reported.

Iran is said to have recently loaded several European tankers with oil after announcing on Saturday that it would do so within the next 24 hours.

“In the coming 24 hours, 4 million barrels of crude oil will be loaded onto 3 tankers destined for Europe,” Rokneddin Javadi, managing director of the National Iranian Oil Company, was quoted as saying by the Shana news agency.

Of those 4 million barrels of crude, 2 million barrels are assigned to France’s Total, and 2 million barrels have been bought by two companies in Russia and Spain,” he added.

“One of the opportunities created by the JCPOA was the increase in oil exports,” Jahangiri said, referring to the Joint Comprehensive Plan of Action, or the nuclear deal between Tehran and world powers, the Tasnim news agency reported.

He said that Iran’s exports, which currently stand at 1.3 million barrels per day (bpd), will amount to 1.5 million bpd by mid-March, and to 2 million within a few months.

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