Iran reports higher oil sales to BP, Shell

Press TV- Iran says it has increased its sales of crude oil as well as condensate – a type of very light crude produced from gas fields – to global energy giants Shell and BP. 

Director for International Affairs of the National Iranian Oil Company (NIOC) Mohsen Qamsari was quoted by the domestic media as saying that Shell and BP had purchased two to three consignments of oil from Iran over the past few months.

Each consignment, Qamsari added, comprises around one million barrels of oil.

The official added that the sales to the two had been carried out through spot contracts.

Qamsari further emphasized that Iran expected to increase oil sales to Shell and BP in the near future through more spot contracts.

He added that talks were also underway with both companies over long-term sales deals.

Elsewhere in his remarks, Qamsari said that Iran’s average oil exports in 2016 stood at around 2 million barrels per day.

Iran’s media reported that the country’s current crude oil production was close to 4 million barrels per day, almost the same as before sanctions were imposed against the country in 2011.

Iran exports the bulk of its crude oil to Asian consumers including India, China, South Korea and Japan.

Figures released earlier this week showed that Iran’s oil exports to its Asian clients had doubled in November compared to the same period last year.

A report by Reuters to the same effect showed that the four major Asian consumers of Iran’s oil had imported a total of 1.94 million barrels per day of oil from the country in November. The figure, the report added, was higher than last year by 117 percent.