EMEA News
Iran Loads First Europe-Bound Crude Shipments
Iran has sent its first shipment of crude oil to Europe since international sanctions against the country were lifted, Bloomberg Business reports.
Roknoddin Javadi, managing director of the National Iranian Oil Company (NIOC) Saturday said Iran was planning three initial Europe-bound crude shipments, with 2 million barrels of oil said to be intended for France-based Total SA, and another collective 2 million barrels for companies in both Spain and Russia.
Total, which has not provided comment on the news, is reported to have loaded a vessel at the Kharg Port, with the other two companies' vessels expected to load at the port following that on Sunday.
Total is reported to have chartered the very large crude carrier (VLCC) Atlantas, while Spainish Compañía Española de Petróleos, S.A.U. (Cepsa) booked the Monte Toledo, a Suezmax, and LITASCO SA, a Lukoil trading unit, booked the Distya Akula.
The Atlantas was said to have been bound for European ports, while the Monte Toledo and the Distya Akulafor, were bound for Spain and Constantza, Romania, respectively.
In January, Ship & Bunker reported that, following the lifting of sanctions against Iran allowing the nation to return to the international oil export market, the Islamic Republic had cut its crude prices to Europe for February delivery.
