Iran daily exporting 60,000 barrels of crude to Greece
Tehran, Iran, Apr. 22
By Mehdi Sepahvand - Trend:
Iran has resumed the oil export to Greece with 60,000 barrels per day (bpd) sold to the Hellenic Petroleum, says Mohsen Qamsari, the Iranian Oil Ministry's international relations director.
The Greek company received its first cargo of crude from the post-sanctions Iran in late March, Mehr news agency reported April 22.
Before being crippled by sanctions, Iran used to export 120,000 bpd of oil to Greece.
Now the Islamic Republic is looking forward to resuming oil export to other European countries as well, including France and Spain.
Through the contracts it has signed with France's Total and Spain's Sepsa, Iran expects to be exporting 250,000 to 300,000 bpd of crude to Europe in the near future.
Iran's crude output stood at 4.2 million bpd before the sanctions, some 2.3 million bpd of which used to be exported. Under the sanctions the output fell to 3.3 million bpd while the exports dropped to 1 million bpd.
Since the sanctions were lifted in January, Iran has increased the crude export to 1.7 million bpd aiming to redeem its previous place in the world market.