EMEA News
Iranian Bunker Sales Remain Steady
Iran's National Iranian Oil Products Distribution Company (NIOPDC) said bunker sales for the 6 months ending September 21, 2012 remained "average" in comparison to recent years, the country's FARS News Agency (FNA) reports.
800,000 tonnes of fuel oil and 50,000 tonnes of gasoil was said to have been sold to vessels in the first half of the Iranian year, with some months seeing sales as high as 172,000 metric tonnes.
NIOPDC Managing Director Jalil Salari said that changes in pricing were responsible for months seeing a drop in sales.
"After changing the price formula, the NIOPDC is more interested in bunkering," he said.
Salari added that the company's bunkering activity had been successful because of the quality of its product, and its strategic location allowing it to bunker vessels navigating in the Persian Gulf waters.
The news comes despite Western pressure on the Islamic Republic through mounting sanctions intended to curb the country's revenues from oil and petrochemical products.
Ship & Bunker reported Friday that industry sources had said Iranian fuel oil was being sold for cash at a heavy discount in Fujairah causing the market there to become "ultra depressed."
