Turks mulling over Iran’s fuel oil

TEHRAN, Jul. 02 (MNA) – A Turkish company is talking Iranian oil officials into a fuel oil contract as the first Iran-Turkey deal over the product.Having 42 million liter surplus production of fuel oil, Iran is looking for more customers for its soaring production of this middle distillate in addition to its supplying for the ships and tankers in the Persian Gulf bunkering terminals.

While a former contract over fuel oil between Iran and the UAE is still in practice, the overplus production of it has led Iranian oil officials to explore new markets in the neighboring countries including Turkey.

Following the developments in the South Pars gas field and extensions in gas network of power plants, the supply has preponderated the demand urging an in-time balance in the production-marketing seesaw of fuel oil.

Also the official statistics recounting the first quarter of Iranian calendar year show a 25% curb in the domestic consumption of this middle distillate.

Bearing fruit, the current negotiations would lead to the first Iran-Turkey deal over the fuel oil.

By Mehr News Agency