Azerbaijan, Baku, May 14/Trend, D.Khatinoglu/
Iranian allowance to private sector to sell 20 percent of the country's oil export will doomed to failure, because of a lack of Iranian company having experience in oil deal sphere, Reza Taghizadeh, expert in energy issues, told Trend on Monday.
The Iranian government allowed the country's private companies to export 20 percent of Iran's oil.
It is the first time when private companies will participate in exporting Iranian oil.
Until now, the private petroleum sector has only been involved in crude oil swaps with Iran's neighbours, Hasan Khosrojerdi, head of the Iranian Oil, Gas & Petrochemical Products Exporters' Association (OPEX), said.
"The private sector in Iran has never sold oil crude. Searching for markets, getting insurance and reinsurance of shipping are very hard for them and procedures connected with this work is quite a complicated issue," Taghizadeh said.
The U.S. new round sanctions on Iran's Central Bank will take force in June 28 and EU sanctions on Iranian oil purchase, rendering insurance services and also imposing embargo on Iranian Central Bank will become effective in July 01.
The statistics published late last week by both IEA and OPEC indicates a significant drop in Iran's oil output and export volume, as the Western sanctions over Iranian oil sector and banking system are going to take affect in two months.
Some Iranian major oil costumers such as the Europe Union, South Korea, Japan and Turkey announced that they have increased Iranian oil purchase, the fact that is proved in IEA stats, saying 15% to 25% of Iran's oil output wasn't sold and had to be pumped into floating tanker storage.
An anonymous Iranian official told WSJ that the amount of oil kept by the country in ships doubled to 24 million barrels between March and late April.
Trend Expert Councils member Reza Taghizade says that the Iranian government's major goal is to release some oil crude to shell companies created by semi-official or subsidiary companies of Iranian Revolutionary Guard Corps (IRGC) to barter oil crude with import cargoes from foreign companies.
Iran agreed with China, India, Russia, Pakistan and some other countries to barter oil and petrochemical productions with their non-oil productions because of payment problems caused by the Western countries' embargo on Iranian banking system.
According to OPEC monthly statistics published last week, Iran's oil output decreased from 3,563 mbpd in forth quarter of 2011 to 3,196 mbpd in April 2012.
IEA also released its latest statistics a day after OPEC said that Iranian oil export has dropped and may decrease by 1 mbpd in the second quarter of current year.