Energy
0

1st Pars Oil Cargo Exported

1st Pars Oil Cargo Exported 1st Pars Oil Cargo Exported

National Iranian Oil Company shipped its first batch of crude cargo from West Karoun Oil Block in the southern Khuzestan Province to an unnamed European buyer. According to Shana, the Iranian Oil Ministry's news portal, 500,000 barrels of West Karoun oil, marketed as Pars Oil, was dispatched from Bahregan Port in the Persian Gulf on Saturday. The portal did not mention the buyer's name, but according to reports from early June, Spain's Repsol purchased 500,000 barrels of Pars Oil on a spot basis. Pars Oil, co-loaded with Iranian heavy grade, is a new grade produced in the West Karoun block. Trade shows Tehran’s willingness not only to raise oil exports but also to expand trade with Europeans."Other customers might be on board," Shana added, noting that NIOC has distributed samples of the heavy oil from oilfields in southwest Iran to some customers. NIOC sold its first oil cargo to Chile last week after 16 years.

Premium

Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Add new comment

Financialtribune.com