Iran ranks Asia's first oil supplier

Iran Materials 6 September 2011 12:03

Azerbaijan, Baku, Sept. 6 /Trend/

Iran exports a total of 60 percent of its crude oil to Asian countries. The rest is exported to the EU and a small quantity to African countries, the Mehr News Agency reported, quoting the director of international affairs at the National Iranian Oil Company Mohsen Ghamsari as saying.

"Currently oil exports to Asian countries are a priority for Iran. Considering the closer distance to Iran, Asian countries are able to buy Iran's oil at higher prices," he said.

The National Iranian Oil Company will open an office in Singapore. The company currently maintains two offices in China and India.

Ghamsari noted that the National Iranian Oil Company is eyeing to attract South East Asian countries to sign contracts.

Iran has OPEC's second-highest oil output, and ranks second in the world in terms of natural gas reserves after Russia.