Italy’s Eni buys oil from Iran for first time since sanctions lifted

By bne IntelliNews December 20, 2016

The National Iranian Oil Company (NIOC) has sold its first cargo of crude oil to Eni, in what is the first order by the Italian oil company since sanctions were removed on Iran back in January, Iran’s SHANA news agency reported on December 19.

Eni, like several other European oil companies, did have a working relationship with Iran, but like many others pulled out of the market for Iranian oil in 2012 following the imposition of sanctions on the Islamic Republic over ts nuclear programme.

“NIOC has signed a short-term contract with Eni to sell crude as it seeks to revive the agreement it had with the Italian company before the imposition of international sanctions,” Mohsen Qamsari, director of international affairs, was quoted as saying by Financial Tribune on December 20 about the deal.

The official said that Iran could supply 100,000 b/d to the Italian company if it was happy to order that amount.

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