Iran’s oil sales to Europe top 700,000 bpd

Iran exported more than 700,000 barrels per day (bpd) of crude oil to Europe in October, but Asia remained the country's main customer, a senior official says. 

“Iran’s crude oil exports averaged 2.44 million barrels per day in October,” director general for international affairs of the National Iranian Oil Company (NIOC) Mohsen Qamsari said in Tehran on Wednesday.

Asian clients took in 1.74 million bpd of Iranian oil last month, while more than 700,000 bpd were exported to Europe during the period, he added.

Iran’s oil sales to Europe have been steadily rising in recent months, helping the country claw back its traditional markets in the continent.

France's Total, Spain's Cepsa and Greece's Hellenic Petroleum became the first European companies to book Iranian crude for their refineries this year after the lifting of sanctions.

The country has found new customers in Europe, with Hungary's MOL saying last month that it had commissioned a cargo of 140,000 tonnes of Iranian heavy crude oil for the first time.

Last month also marked British oil company BP clinching its first oil deal with NIOC since last year’s landmark nuclear accord for purchase of condensate.

Bosnian officials discussed imports of Iranian crude and oil and petrochemical products as chairman of Bosnia and Herzegovina’s inter-ethnic presidency Bakir Izetbegovic visited Tehran.

In Asia, more Japanese companies which had halted oil purchases from Iran under Western sanctions said they were seeking to resume imports.

Marubeni, Sumitomo, Itochu and Kanematsu are some of the Japanese firms which are looking to take Iranian crude, giving a fresh boost to Iran’s successful campaign to return to the market.

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