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Spain Increases Iran Oil Import
Spain Increases Iran Oil Import

Spain Increases Iran Oil Import

Spain Increases Iran Oil Import

The probable revival of US sanctions threatens to reduce the presence of Iran in the oil market, where it has regained weight in the last two years.  In the case of Spain, Iran has once again positioned itself as one of the main suppliers following the agreements signed by the National Iranian Oil Company and the oil companies Repsol and Cepsa to encourage purchases of Iranian crude by Spanish refineries, El Mundo reported. According to data from Strategic Reserve Corporation, Iran is already the fifth market for oil sales to Spain with the import of 1.4 million tons between January and March. This figure is 67.4% higher than that of the last year's corresponding period.  Iran has overtaken other oil suppliers to Spain, namely Brazil, Libya, Kazakhstan and Venezuela. Reportedly, Iran’s crude and condensate exports in April were 2.87 million barrels a day. Observed shipments of both rose to 2.83 million barrels a day from 2.48 million barrels in March, according to ship-tracking data compiled by Bloomberg. 

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