6 May 2018 - 18:01
  • News ID: 282558
Iran Supplying 'Pars' Oil on Markets

TEHRAN (Shana) -- The CEO of the National Iranian Oil Company (NIOC) says the country has started selling quality crude oil cargoes, dubbed as Pars Oil, on international markets.

 

Addressing a press conference on the sidelines of the 23rd Iran International Oil and Gas Show, Ali Kardor said Iran's exports in April broke a record, saying the country also started exporting Pars Oil on global markets during the month. 

Responding to reporters on what Iran would do in case the US president decides to walk away from the Joint Comprehensive Plan of Action (JCPOA), Kardor said: "For us, the worst time for transferring our oil cash was when the sanctions were in place and we received the money with delays or it would be accumulated. However, all the transactions were finally settled. Things would never become that bad." 

He said Iran has no oil money frozen currently, adding the country received 100 percent of the proceeds from the sale of oil.

Asked whether breach of the nuclear deal would influence Iran's oil sector, the official said, "We have a bank in Germany which is 100% owned by Iran so we are not worried it would be impacted by the sanctions, unless the whole the banking system is stopped which is rare."

Oil exports to Russia

Kardor said Iran's oil exports to Russia had reached a million barrels so far, adding in case the US pulls out of the JCPOA, "NIOC will face no special problem as it operates based on its orders. LCs and sales mechanisms of oil are clear and there will be no barriers to the sale of oil for NIOC."
News ID 282558

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