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Iran, Vitol to exchange gas oil for gasoline

Business Materials 6 May 2016 19:12 (UTC +04:00)

Tehran, Iran, May 6

By Mehdi Sepahvand - Trend:

The Switzerland branch of Vitol has made an agreement with Iran to purchase gas oil from the National Iranian Oil Company (NIOC), said the NIOC's International Affairs Director Mohsen Qamsari.

It has been agreed that at times, some costs are paid in gasoline by the Swiss company, he told Mehr news agency May 6.

The gas oil export has increased since March, he said, adding since then an average of 400 thousand tons of mazut, 400 thousand tons of gas oil, and 130 thousand tons of liquefied gas has been exported on a monthly basis.

Some African countries such as Kenya have become customers of Iranian gas oil, the official underlined.

On gasoline imports, Qamsari said Iran is currently importing 12 million liters of the fuel every day.

He also commented on other NIOC exports, saying Iran is currently selling 2 million barrels of crude oil and 500 thousand barrels of gas condensates per day.

Iran's crude export has doubled since January, when the country was released from international sanctions. Tehran says it is attempting to make up for a huge reduction of its oil export that was forced on it because of the sanctions.

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