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.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Uzbekistan announces $500mn in backing for projects in rare earths

Uzbekistan is to invest $500mn in backing promising projects in the mining of rare earth elements (REE), the presidential press service has announced. The country’s ... more

Russia for first time overtakes Turkmenistan in gas exports to China

Russia in February for the first time overtook Turkmenistan on a monthly basis to become the largest pipeline supplier of natural gas to China, according to General Administration of Customs of China ... more

Ukraine's DTEK seeks $350mn to restore energy capacity after Russian attacks

Ukraine's leading private energy company, DTEK, has sounded the alarm, indicating an urgent need for $350mn to recuperate lost capacity resulting from Russia's relentless assaults on thermal power ... more

Follow Us On

Most Read

  1. The models are wrong, climate change is accelerating faster than predicted
    7 days ago
  2. Cheap Russian drones overwhelm US-made Abrams tanks, taken out of action
    6 days ago
  3. Russia already treating Bosnia’s Republika Srpska as an independent state
    7 days ago
  4. Putinomics: Russia’s oil and gas revenue to double in April
    7 days ago
  5. Kuwait reacts angrily to being cut out of Iraq and Turkey’s transport project
    6 days ago
  1. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  2. Saudi Arabia to scale back plans for Neom city
    22 days ago
  3. Iran vs Israel: Who is better equipped for war?
    19 days ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    1 month ago
  5. Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
    6 months ago

Reports

Dismiss