Iran oil exports undisrupted as sanctions impendTEHRAN (NIOC) _ A top Iranian oil official says all of the country’s oil cargoes have designated customers worldwide, stressing that the potential US sanctions have not thus far undermined the flow of oil supplies to international markets.
Pirooz Mousavi, the head of the National Iranian Oil Terminals Company (NIOTC) stated that Iran’s total exports of oil and condensate stood at an average of 6 million barrels per day (m/bpd). Mousavi added that 60 percent of exports were made to Asia and the rest to Europe.
US President Donald Trump this past Tuesday said he would take the US out of a nuclear agreement that was signed with Iran in 2015. He also signed a presidential memorandum to re-impose what he described as the “highest level of sanctions” against Iran.
Mousavi, whose NIOTC is in charge of controlling Iran’s oil and oil products export points, further emphasized that Iran currently had no oil stored in its tankers at sea in what could have otherwise meant that Iran was not able to sell its crude.
He said around 800 million had been exported over the past Iranian calendar year (March 2017-18).
The official also added that the required modifications had been made to load a collective of 8 million barrels of oil and oil products at Kharq terminal in a single day, stressing that this would be the new capacity of Iran’s oil exports.