Iran, Hungary negotiating to sign long-term oil deal
Baku, Azerbaijan, Oct. 30
By Fatih Karimov – Trend
Iran and the Hungarian multinational oil and gas company MOL have launched a new round of negotiations to sign a long-term oil deal.
Mohsen Qamsari, director of international affairs at the National Iranian Oil Company (NIOC) has visited Budapest to talk with the MOL officials, Mehr news agency reported.
Besides negotiating crude oil and oil products export to Hungary, the two parties will also negotiate investment in Iran’s upstream and downstream oil sector.
According to traders and shipping data, MOL has commissioned a cargo of 140,000 tons of Iranian heavy crude oil for Oct. 23. The cargo will be delivered from Iran's Kharg Island terminal to Croatian port of Omisalj.
Meanwhile, Qamsari, said Oct. 1 that the NIOC finalized a deal to export a 1-million-barrel oil cargo to Hungary the next month.
Negotiations for crude export to Hungary launched in early 2016.
In mid-July, Qamsari said the MOL called for importing 40,000 barrels of light crude oil per day from Iran. However, at the time, he said Tehran was not ready to provide MOL with light crude.
Prior to sanctions, France, Italy, Spain and the UK were among Iran's traditional customers in Europe. Nonetheless, since sanctions were terminated last January, East European states have also submitted proposals to purchase oil from Iran.