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Iran, French oil giant reach long-term purchase agreement

Business Materials 5 February 2017 17:08 (UTC +04:00)

Baku, Azerbaijan, Feb. 5

By Khalid Kazimov – Trend:

Iran has finalized a one-year deal with Total, French oil and gas company, on exporting crude oil.
An informed source has told Fars news agency that the long-term deal was signed between the French company and Iran over the past week.

According to the report, Iran is also expected to reach other long-term agreements with several Asian refineries on exporting crude oil within the next two months.

The informed source further added that the National Iranian Oil Company has put increasing the production level of crude oil on agenda.

Ali Kardor, the head of National Iranian Oil Company, on Feb. 4 told reporters that Iran exports 600,000 barrels of crude to the Europe per day.

According to Kardor, Iran exported 900,000 barrels of crude to the Europe in December.

Oil Minister Bijan Namdar Zanganeh in January said that the volume of Iran’s oil output was almost 3.9 million barrels per day.

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