Tag Archives | Saras

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 […]

Italy’s Saras Reimburse Entire Oil Debt with Iran

Key Italian oil refiner Saras said it has cleared all the debt it owed Iran for oil purchased before sanctions were imposed against the country in 2012. Saras General Manager Dario Scaffardi was quoted by Reuters as saying that the debt – which amounted to €400 million – had been cleared in the first quarter […]

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 […]

Italy’s Saras Clears Part of Iranian Oil Debt

Italian oil refiner Saras has paid the first installment of its outstanding oil dues to Iran, the company’s managing director said. “We expect a smooth repayment over time,” Dario Scaffardi told analysts on a conference call on second-quarter results, Reuters reported. Saras, which had an outstanding debt of around 350 million euros with Tehran, paid […]

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. […]

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 […]