Speaking to Shana Nasrollah Sadashti, NITC CEO, said it was still too early to discuss the impact of US pullout of the Joint Comprehensive Plan of Action (JCPOA) on Iran's oil exports.

He said NITC's freight capacity is nearly 14 million tons, adding the company's income depended on international and regional conditions.

Sardashti, however, is of the opinion that JCPOA's impact on NITC's activities was eye-catching.

Q: What is the share of the National Iranian Tank Company's fleet in international markets following implementation of the JCPOA?

A: 80% of the NITC fleet operated on international markets prior to imposition of the sanctions. NITC tankers sailed in such regions as north Europe, West Africa, South America, Persian Gulf ports, Mediterranean ports, the Baltic Sea, the Red Sea, and the Black Sea, before the sanctions were imposed on Iran. However, the company sent oil to only 6 strategic destinations under the sanctions. When JCPOA was implemented, NITC tried to resume its activities to the pre-sanctions status which was successful to some extent despite certain banking issues and US primary sanctions. For the time being, 50% of NITC fleet is operating in world markets.

Q: NITC sold oil on FOB basis after JCPOA. How did your company fare then?

A: Actually, after JCPOA implementation, NITC reached out to its European customers like France's Total, Royal-Dutch Shell, Repsol and Sepsa of Spain, and resumed working with them. The company is not yet fully operational and needs the National Iranian Oil Company (NIOC)'s support.

Q: Is NITC planning to open branch offices in other countries?

A: We are considering opening new offices in Hong Kong and London besides Netherlands, China, Rotterdam, Cyprus and Dubai.