Iran Ready to Challenge UAE and "Make a Fortune" on Bunkering Once Sanctions Lift

by Ship & Bunker News Team
Thursday November 5, 2015

Iran has boosted bunkering at its Persian Gulf terminal by 30 percent since last March, having supplied over 170 ships transiting the Strait of Hormuz with approximately 1.795 million tonnes of fuel, Iranian media reported on Wednesday.

The news comes alongside assertions by Naser Sajjadi, managing director of the National Iranian Oil Products Distribution Company (NIOPDC) that the country is prepared to challenge the United Arab Emirates (UAE) for bunkering activity in the Persian Gulf.

"Sanctions removal is an excellent opportunity to make a fortune in oil bunkering in the Persian Gulf, Strait of Hormuz and the Gulf of Oman," said Sajjadi.

Sajjadi noted that Iranian bunkering revenues had risen 20 percent over a six month period ending in September, adding that Iran intends to expand diesel and fuel oil sales for the region's tanker fleet once sanctions against the country are lifted.

Iran was said to have earned $3.1 billion from bunkering activities over the last two years.

Further, during the March - September period, the country is said to have supplied 2 million tonnes of fuel oil and 100,000 tonnes of diesel.

Last week, it was reported that Nasrollah Sardashti, commercial director for the National Iranian Tanker Company (NITC) said that the company is in negotiations with two major bunkering companies to resume their pre-sanction relationships in providing fuel to its vessels.

Last month Ship & Bunker reported that Iran's oil and products exports have seen a significant boost, courtesy of shipments of discounted fuel oil to the UAE.