Iran’s oil exports to EU stand at 1 mbpd
By Trend
Iran’s crude oil and condensate exports to Europe has reached
one million barrels per day.
Iran sells crude oil to European companies within the framework of
long-term deals and spot cargo, however the volume of spot cargo is
higher, an informed source told Fars news agency July 17.
Iran still faces problems in receiving money of the sold oil due to
banking issues, the source said, adding that the central bank
officials are seeking to find ways to accelerate money receiving
process.
The source said that Iran also faces the same problem in oil export
to Asian countries as the banking sanctions still remain in place,
the source said.
Iran was exporting 2.5 mb/d of crude oil and gas condensate before
the imposed sanctions in 2012, of which 18 percent was supplied to
the EU.
After 2012, the EU cut Iran oil purchase and Asian countries had to
decrease Iranian oil import gradually, which led to decreasing
Iranian oil and gas condensate export to 1.2 mb/d in 2015.
After elimination of sanctions in 2016, based on nuclear agreement,
Iran resumed its oil exports.
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