Iran to sign 2-year oil deal with Swiss Vitol
By Fatih Karimov – Trend:
Baku, Azerbaijan, Sept. 4
The National Iranian Oil Company (NIOC) plans to sign a deal with the Switzerland-based Vitol company to sell crude oil and gas condensates, an informed source told Fars news agency Spt. 4.
The NIOC will sell oil to the European company with discount for two years.
In exchange, the Europian company will give Iran loan with “high interest rate,” the source said, without unveiling further details.
The NIOC has recently signed an agreement with Vitol for buying gasoline. Some costs will be paid in gas oil or crude oil to Vitol's Swiss subsidiary.
Vitol has also expressed interest in crude oil swap with Caspian Sea littoral states through Iran’s Neka oil terminal.
An expert delegation from Vitol has visited the oil terminal to study the issue, Hamid Reza Shahdoust, director of Iran's North Oil Terminal, said last month.