Iran rejects again reports on storing oil at sea

Business Materials 17 June 2015 14:39 (UTC +04:00)

Baku, Azerbaijan, June 17

By Umid Niayesh - Trend:

Iran has rejected a new report published by Reuters about storing as much as 40 million barrels of oil on supertankers at sea.

Currently Iran has no crude oil stored on ships, Mohsen Ghamsari, director for international affairs at the National Iranian Oil Company said.

In a report on June 15 Reuters reported that Iran has stored the crude on tankers at sea as it prepares for a sales drive if a nuclear deal with the P5+1 (the US, UK, France, Russia, China and Germany) can be sealed.

Meanwhile Ghamsari said that Iran has prepared all needed infrastructures to increase its crude oil at the global markets once the sanctions are lifted, Iran 's official IRNA news agency reported June 17.

Back in March, Reuters report that Tehran is storing at least 30 million barrels of oil on its fleet of supertankers was rejected by Iran immediately.

Iran's crude oil export was above 2.2 million barrels per day (mb/d) in 2011, but the western sanctions imposed in mid-2012 have pushed Iranian oil export volume to around one mb/d in 2013.

After achieving an interim nuclear agreement in November 2013, Iran 's oil export increased steadily to around 1.11 mb/d, however, the volume reportedly decreased slightly during recent months again.

Iran and the P5+1 reached a mutual understanding on Tehran 's nuclear program in the Swiss city of Lausanne on April 2. The parties have agreed to finalize a comprehensive deal on the Islamic Republic's nuclear program by the end of June.

The deal stipulates the removal of all international sanctions on Iran in return to narrowing the range of Iran 's nuclear activities.

Edited by CN

Follow the author on Twitter: @UmidNiayesh