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No hurdle for exporting Iranian oil to six Asian countries: official

Oil&Gas Materials 27 January 2014 16:45 (UTC +04:00)

Baku, Azerbaijan, Jan.27

By Fatih Karimov - Trend: Obstacles facing exports of Iranian crude oil to six Asian countries have been removed, IRNA quoted the National Iranian Tanker Company's managing director Ali-Akbar Safaei as saying on Jan. 27.

Based on the Iran-P5+1 agreement, the NITC can ship crude oil to China, India, Taiwan, Turkey, Japan, and South Korea, he added.

There is no problem for insurance coverage and banking services related to oil sales to the mentioned countries, he noted.

Lifting the insurance ban on Iran will not help the country boost oil exports, the Mehr News Agency quote National Iranian Oil Company's director for international affairs Mohsen Qamsari as saying on Jan. 21.

If the all the sanctions on the country are removed, a rise in oil exports will be possible, he said.

The Geneva deal just lifts some insurance bans partially, he noted.

For the time being, Iran's oil exports vary between 900,000 barrels per day and one million bpd, he said, adding that the figure is not expected to change notably in the short term.

On Jan. 12, Qamsari said that the implementation of the Geneva nuclear deal will pave the way for an increase in Iran's oil exports, the IRIB News Agency reported.

"All customers of Iran's oil are waiting for the deal to come into force," Qamsari said.

"Iran exported around 1.2 million barrels of gas condensates per day in the previous year," he said, adding that the figure has reached to 1.4 million barrels in the current year.

Reuters last month quoted an Iranian oil official as saying that the country exported 600,000 barrels of oil per month (21.3 million liters per day) in the first three quarters of the current year.

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