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Iran's NIOC Should Expand Options for Selling Oil

NIOC Should Expand Options for Selling Oil NIOC Should Expand Options for Selling Oil

Exporting crude under conditions when new US sanctions are intimidating traditional customers is a difficult undertaking and the National Iranian Oil Company should explore all alternatives to export oil, a lawmaker said.
"Offering discount and longer than normal deadlines to buyers to pay their bills are inevitable. Such measures can help prevent financial crises," Hedayatollah Khademi said, ICANA reported.
The country is heavily dependent on oil export revenues  as no effective measures have been adopted yet to cut this overreliance on oil in the past four decades. This is why sanctions have had a profound effect, he said. 

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