Iran to increase oil export to EU

Iran’s oil export to EU increased to 600,000 barrels per day, Rokneddin Javadi, Iran’s deputy oil minister said.

Iran prefers to sell oil directly to the final consumers, like refineries, and avoids dealing with intermediaries and distributors, Javadi told Mehr news agency on May 13.

He added that Russia’s Lukoil, Spain’s Cepsa, Italy’s Saras and Greece’s Hellenic Petroleum purchase Iranian oil, while new round of negotiations over oil export to other European companies continue.

“Several new deal with European companies, including Italy’s Eni will be sealed by summer,” he added.

Javadi said that currently the EU shares 30-35 percent in Iran’s total oil export.

He added that currently Iran exports 2 million barrels per day (mb/d) of crude oil as well as 0.5 mb/d of gas condensate in total.

According to the International Energy Agency’s latest report, published on May 12, Iran’s oil output and export stood at 3.56 mb/d and 2 mb/d in April respectively.

Before sanctions, Iran was exporting 2.2 mb/d of crude oil including 0.8 mb/d to the EU.

Source: Trend