Tag Archives | Hellenic Petroleum

UAE’s ENOC Clears Iran Oil Dues

The Emirates National Oil Company (ENOC) has paid its outstanding oil dues to Iran, a report said. Iran received more than $4bn from ENOC as part of the UAE retailer’s settlement of its debts owed to Iran for pre-sanction oil and gas purchases, the Qatar-based Al Jazeera broadcaster reported on Tuesday. The report added that […]

OMV Resumes Purchasing Iranian Crude

By John Lee. Austria’s OMV is reported to have received the first consignment of crude oil from Iran in several years after sanctions were imposed on the country. OMV received 1 million barrels of crude oil from Iran in a spot delivery at the Italian port of Trieste.  The cargo will be further send to […]

Iran, Italy Seal Crude Sale Deals

Two Italian energy companies, Saras SpA and Iplom SpA, have signed long term contracts with the National Iranian Oil Company (NIOC) to purchase crude oil from Iran. As of this week, in a contact with Saras SpA, Iran will export 60,000 to 65,000 barrels of oil per day to the company’s refineries for one year. […]

Greece to buy first Loads of Iranian Oil via Total

Hellenic Petroleum (ELPE) will not be able to purchase its first delivery of Iranian crude oil directly from Tehran, according to media reports. The Greek refiner signed a deal with the National Iranian Oil Company (NIOC) in January, but uncertainty in the regulations regarding the lifting of sanctions has led to problems in carrying out […]

Iran to Raise March Oil Exports

By John Lee. Iran is expected to increase its oil exports for March to around 1.65 million bpd, up from 1.5 million bpd in February. According to Reuters, the National Iranian Oil Company (NIOC) is expected to ship around 250,000-300,000 bpd to Europe this month after it finalised term deals with France’s Total (about 200,000 […]

Iran Debtors Ready to Settle Oil Debts

Iran says foreign oil firms are ready to settle their debts to Iran, probably in euros. Iranian Minister of Petroleum Bijan Zangeneh told a press conference on Tuesday that Greece’s Hellenic Petroleum, Italy’s Saras and Royal Dutch Shell owe Iran about $4 billion, which will be paid back to Iran in euros. Shell has said […]

No Oil Sales to Greece before Payment of Debts

Iran’s Minister of Petroleum, Bijan Zangeneh, has said Iran has pegged future oil sales to Greece to the payment of Greece’s debts to Tehran. Athens has amassed debts to Iran of nearly $800 million from oil purchases. “For restoration of [Iran’s] oil sells to Greece after the sanctions removal, first, the issue regarding [Athens’s] debts […]