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Hungary buys Iranian oil

Oct 2, 2016, 6:19 AM
News ID: 4115
Hungary buys Iranian oil

EghtesadOnline: One more European country buys Iranian oil in post-sanctions era, Director of the International Affairs Department of National Iranian Oil Company (NIOC) Mohsen Qamsari said on Sunday.

Qamsari told IRNA that Hungary finalized purchase of one million barrels of Iranian crude oil.

About 500,000 to 600,000 bpd Iranian crude is now being exported to Europe everyday and talks are underway to increase the amount.

Total of France, Spanish Cepsa, Greek Hellenic, Polish Lotos and a number of Italian companies have already gone ahead with their traditional purchase of Iranian oil after lifting of sanctions.

He noted that all Europe crude consignments contain one million barrels so as to be able to pass through the Suez canal.

Iranian crude exports in July amounted to about 2.1 million bpd, most of them exported to Asia.
Europeans traditionally purchase about a quarter of Iranian oil.