Arab Today, arab today irans first postsanctions oil exports to europe begin
Last Updated : GMT 16:17:20
Arab Today, arab today
Arab Today, arab today

Iran's first post-sanctions oil exports to Europe begin

Arab Today, arab today

Arab Today, arab today Iran's first post-sanctions oil exports to Europe begin

An Iranian Revolutionary Guard speedboat cruises past an oil tanker off
Tehran - AFP

 Iran is poised to export its first oil shipments to Europe since international economic sanctions were lifted in mid-January, the oil ministry's SHANA news service reported on Monday.

It said two million barrels of oil were being pumped aboard a tanker at Kharg Island in the Gulf, bound for French energy giant Total.

Another two tankers were preparing to ship a million barrels each to Spain's CEPSA and Lukoil of Russia, SHANA reported.

It cited oil terminals official Pirouz Moussavi as saying on Sunday that loading of the tankers would be complete within 24 hours.

"For the last four years, no oil has been shipped to Europe because of the unjust sanctions against our country," Moussavi added.

In early 2012, the European Union and United States strengthened economic sanctions against Iran because of its controversial nuclear programme, forcing the Islamic republic to halt oil exports to Europe.

Since then, Asia -- mainly India and China -- have been the main market for Iranian oil.

In recent years, Iranian oil exports have fallen from more than 2.2 million barrels per day to about one million bpd.

It currently produces 2.8 million bpd.

Iran's nuclear agreement last July with world powers means that now that most of the sanctions have been lifted it can resume oil exports to Europe.

Last month, the National Oil Company said it had ordered production to increase by 500,000 bpd -- a move Tehran had long planned once the nuclear deal with world powers took effect.

When President Hassan Rouhani visited France in January, a deal was signed with Total to buy 160,000 bpd.

Oil Minister Bijan Zanganeh said the contract with Total would take effect from February 16, SHANA said.

Oil prices rose on Monday with US benchmark West Texas Intermediate for March delivery climbing 57 cents to $33.01 per barrel from Friday's close.

Brent North Sea crude for delivery in April advanced 36 cents to $33.72 a barrel in midday London trade.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today irans first postsanctions oil exports to europe begin Arab Today, arab today irans first postsanctions oil exports to europe begin

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today irans first postsanctions oil exports to europe begin Arab Today, arab today irans first postsanctions oil exports to europe begin

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday