The 3 Week Diet System

Monday, June 1, 2015

Iran preparing to export 400k bpd of oil to Europe

June 01:

Iran preparing to export 400k bpd of oil to Europe

Iran’s media said on Sunday that the country is preparing to export 400,000 barrels per day of crude oil to Europe once the sanctions against the country are lifted.

Mohsen Qamsari, the director for international affairs of the National Iranian Oil Company (NIOC), has been quoted by the media as saying that Iran expects to retain at least 50 percent of its previous share in the European market, Press TV reported.
He said this will be one of the most important plans for increasing Iranian oil exports in a post sanctions era.
Iran and P5+1 are currently working on the draft of a final agreement over the Iranian nuclear energy program that has a deadline of June 30.  The agreement – if reached – envisages the removal of certain economic sanctions against the country including a ban on sales of crude oil to the global markets beyond a ceiling of about one million barrels per day.
Qamsari has added that creating a sustainable security in demand for the Iranian oil is crucial for the country.
“Creating security for the demand of Iran’s oil in international markets will be carried out through foreign investments,” he has been quoted as saying by the Persian-language newspaper Jahan-e San’at.
In other words, Qamsari added, foreign investors will be compensated for their investments in Iran’s oil sector projects from the output of the same projects in which they invest.
The official further emphasized that Iran expects a surge to exports of oil to its old Asian clients such as India and China. This, he said, is because the two countries have made major investments in Iran compared to the past two years.


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