NIOC official denies price reduction

TEHRAN (FNA)- The National Iranian Oil Company’s director for international affairs, Seyed Mohsen Qamsari, said NIOC has offered no reduction in its official oil prices in return for purchasing more oil by India or any other country.

Qamsari told the oil ministry’s website that it is evident that any oil export contract has its own specifications that could not be extended to other contracts.

Oil sell contracts are not subject to a general rule and each of them has its own characteristics depending on the different destinations, he said.

“I can say, generally, NIOC has not considered any price reduction in its oil sale contracts, neither to India nor to any other country,” he added.

Last week, Qamsari said that the capacity of Iran’s crude oil and oil products transportation fleet had risen.

“Since Iran’s oil production capacity will increase by the end of the [calendar] year [in March 2014], we are now thinking of crude oil marketing. Anytime conditions are appropriate, exports will increase,” he said.

Qamsari noted that Iran’s crude oil exports experience fluctuations in different months due to reparation in refineries.

Qamsari had stated earlier that Iran has not offered any cut in its crude oil selling to its oil buyers.

“Basically, Iran is not required to offer any price reduction for selling crude oil because our oil buyers are currently making their purchases based on international regulations and without any problem,” he said.

According to him, Iran’s crude oil price is such that it can engage in trade rivalry with oil producers.

By Fars News Agency


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