Wednesday, November 30, 2022

Poland Buys 2m Barrels of Iran’s Crude Oil: NIOC Official

Mohsen Qamsari, the director for international affairs of National Iranian Oil Company (NIOC), said the country has sold 2 million barrels of crude to Poland.

Qamsari said Poland’s Grupa Lotos has bought two million barrels of Iran’s crude oil in a one-off purchase, adding that the cargo was loaded at Iran’s main oil export terminal Kharg Island last week.

“Signing a long term contract would depend on the two countries’ situation,” he added as cited by Shana news agency.

On June 27, the Atlantas Very Large Crude Carrier (VLCC), destined for Gdansk, left Iran’s Kharg Island laden with 2 million barrels of crude.

The cargo was the first Iranian crude sold into this part of the Baltic Sea market.

In May, Poland’s deputy energy minister said the country was in talks with Iran over cooperation in the oil and gas sector.

Before sanctions, Iran was exporting about 2.2m barrels per day (bpd). July exports are expected to be around 2.1 million bpd, up about 70 per cent year-on-year.

The sanctions were lifted after Tehran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) on July 14, 2015 reached an agreement on Iran’s peaceful nuclear program and started implementing it on January 16.

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