NIOC, Domestic Clients in Direct Talks

NIOC, Domestic Clients  in Direct TalksNIOC, Domestic Clients  in Direct Talks

The National Iranian Oil Company (NIOC) has started negotiations with domestic customers on crude oil and petroleum products and this move has been regarded very favorably by buyers, said the NIOC director of international affairs Seyed Mohsen Ghamsari.

Intermediaries created problems for buyers in the past, but customers can now “directly contact the NIOC to purchase petroleum products via a hotline,” Shana quoted Ghamsari as saying.

The international affairs department of the NIOC receives frequent calls every day and negotiations with buyers are underway, he noted. The hotline was established 3 months ago.

Ghamsari stressed that intermediaries hamper the trade of petroleum products, but direct contact with the NIOC accelerates the process. The hotline provides another means of trading other than the energy bourse as it eliminates the role of brokers.

Last week, the NIOC announced that 100,000 barrels of oil will be offered in the energy bourse for export in October, with both domestic and international buyers able to get their hands on the new delivery.

The hotline is intended for domestic customers only and foreign firms will have to contact overseas offices of the NIOC to purchase their products.