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OPEC+ Deal To Be Forged In March

OPEC+ Deal To Be Forged In March

OPEC and its Non-OPEC partners…

Iran Begins Shipping Euro 4 Compliant Oil

Oil Storage

The National Iranian Oil Products Distribution Company (NIOPDC) has announced that the country has deployed its first Euro 4-compliant gas oil shipment to global markets.

Mahmoud Taherizadeh, Director of the Mahshahr region for NIOPDC stated: “In the first four months of the current Iranian calendar year, about 184 million liters of diesel fuel with Euro 4 standards have been exported from Mahshahr oil terminal… In addition to diesel oil, approximately 960 million liters of mazut were also deployed to world markets over the span of four months.”

He said that for the same period last year, mazut shipments totaled 472 million leaders. Taherizadeh said that since no oil gas cargo had been shipped from Mahshahr terminal in the prior year, this is the first time in the current year that exports of Euro 4-compliant diesel oil have been shipped from the terminal.

Taherizadeh said that the Mahshahr terminal has become a “major corridor” for petroleum exports, and that diesel and mazut exports are expected to continue to grow. In the current Iranian year, which begins on 20 March, the country has exported an average of 9 to 9.5 million liters of gas oil per day. Those numbers show an increase of two times the amount from the same period in the previous year.

India is one of Iran’s oil customers. Last month, the country imported 461,000 barrels of oil per day from Iran, which was up 110 percent from July of last year, and 21 percent increase from June. Vehicle sales in India remain on the rise, increasing the country’s demand for oil.

Iran continues to strive to recover from losses incurred during the nuclear sanctions. While the sanctions were in place, India paid for Iranian imports in rupees, which Iran then used in turn to make purchases from India.

Lincoln Brown for Oilprice.com

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