15:04 | 16/02/2016 Global Economy
Iran is loading 4 million barrels of oil for shipment to France, Russia and Spain, the first delivery to European buyers since sanctions were lifted on the country.
CEO of National Iranian Oil Company, Rokneddin Javadi (Photo: presstv.ir)
Rokneddin Javadi, CEO of National Iranian Oil Company (NIOC), said on Saturday that within 24 hours, four million barrels of Iran’s crude oil will be loaded on three tankers destined for Europe.
He added that France’s energy giant Total will take delivery of 2 million barrels and the rest will go to refiners in Spain and Russia. The development comes weeks after Iran’s nuclear deal with six world powers – known as the Joint Comprehensive Plan of Action (JCPOA) – took effect and subsequently sanctions on Iran were lifted.
As planned, Tehran will export 300,000 barrels of crude oil each day and plans to export around 200,000 barrels of crude oil to Asian partners in the coming months./.