Iran being paid for crude exports, shipments rising: NIOC chief

Iran has seen its oil exports steadily increase in recent months while it has been able to recoup revenues despite sanctions imposed by the United States on both the sales and on banking transactions meant to settle payments, says a top Oil Ministry official.

Mohsen Khojasteh Mehr, who serves as the CEO of the National Iranian Oil Company (NIOC), said on Saturday that senior government officials have been informed about continued rise in Iran’s oil exports since a new administration took office in Tehran in August.

“I am afraid I cannot reveal export figures but I can just say that the situation has improved. Monthly reports about Iran’s exports of crude and condensates are sent to the country’s top officials and they are informed about the details,” Khojasteh Mehr told the semi-official Fars news agency.

He said that a major reduction reported in Iran’s storage of condensates, which is a very light form of crude, is a sign that exports have increased in recent months.

On recouping oil export revenues, the official, who is also a deputy oil minister, said that the NIOC is being duly paid by its crude customers, adding that the Central Bank of Iran is the ultimate authority to control the proceeds.


Source: Press TV