IPMO: Changes in Oil Export Tactics and Destinations

EghtesadOnline: National Iranian Oil Company has employed new tactics and chosen new destinations in shipping oil following the re-imposition of US sanctions, maritime affairs deputy director at Iran’s Ports and Maritime Organization said Saturday.

News ID: ۷۴۷۳۷۲

20 May 2019

“The NIOC’s tactics in exporting oil and petroleum products have changed, and perhaps the destinations of oil cargoes from our ports have changed,” Hadi Haqshenas was quoted as saying by ILNA.

Haqshenas elaborated neither on the new tactics nor on destinations.

In related news, Reuters in a dispatch from London claimed that “Iranian crude oil exports have fallen in May to 500,000 barrels per day.” The news agency quoted “tanker data and industry sources” for the report. Washington tightened the screws on Tehran’s main source of income, deepening global supply losses, according to Financial Tribune.

“There is no denying the fact that the loading of oil and products has fallen compared to the past, but the shipping of oil cargoes from our ports has definitely not halted,” Haqshenas said, without giving statistics.

Iranian exports have become more opaque since US re-imposed sanctions in November after pulling out of a 2015 nuclear accord between Tehran and six world powers.

Tehran no longer reports its production figures to the Organization of the Petroleum Exporting Countries and there is no definitive information on exports.