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 international transactions with the country.

As a result, this month’s load, and probably the next three, scheduled for April, will have to be purchased from France’s Total.

An company source told Kathimerini, that there were also difficulties in payment of the first 100-million-euro installment of its 600-million-euro debt to the NIOC, saying “we have disbursed the installment, but it has not yet reached Tehran.

(Source: ekathimerini)

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