Qamsari: Iran Regaining Market Share Without Discount

EghtesadOnline: International Affairs Director of the National Iranian Oil Company Mohsen Qamsari said on Saturday that Iran has regained its share in the oil market without any discount.

News ID: ۷۳۵۲۱۶

17 July 2016

Ghamsari told Shana, "Though many countries played with prices to raise their share in the market, Iran was so credible before customers that managed to lure them due to safe supply and its credit without giving any discount in prices."

He noted that Iran has no stored oil offshore. "Of course there is meager amount of gas condensates offshore because they are not for constant use. They are occasionally offshore as long as no customer has been found."

Commenting on Iran's talks with foreign parties for oil sale, he said the talks have always been held with almost all potential customers, let's say refineries and consumers of crude.

Any time, the talks with any country in Asia or Europe might come to a conclusion, said the official, adding that so, it cannot be said the talks have increased or changed, rather the talks are always there.

As for Iran's oil exports to Europe and its comparison with the pre-sanctions era, he said real estimates of the loading shows that about one fourth of Iranian oil is exported to Europe and it can be said the level of exports is now equal to the pre-sanctions era.

He went on to say that for the time being, even volume of contracts between Iran and Europe equals that of pre-sanctions era. "Actually, Iran has now regained 80 percent of its pre-sanctions markets."

The official said certain issues at work prevent increase in the exports. "Certain customers are accustomed to former procedures and are not willing to raise imports. Also European customers' payment to Iran is now in euro and through Central Bank's active accounts in Europe but certain main banks that already did financial transactions are now declining to do so."

Asked about Bloomberg claim that Iran's oil exports fell in June, he said the decline in a month cannot be principally a good criterion. "Sometimes, loading is delayed and sometimes the purchaser has a problem and one cannot welcome the purchased oil. So, at least three months are required based on which to claim exports have either declined or increased."