Iran Looking for New Oil Customers in Europe

An Iranian deputy oil minister unveiled plans for a rise in crude exports to Europe by finding new customers.

Speaking to Tasnim, Marzieh Shahdaei said the Oil Ministry is negotiating with new European customers as part of policies to increase crude oil exports to the continent.

With the conclusion of the business talks, Europe’s share of Iran oil exports will increase, she added.

The official also emphasized that the move by some of the Asian customers to curtail oil imports from Iran would by no means spoil the country’s export market.

Iran’s oil exports have almost doubled since the implementation in January 2016 of the Joint Comprehensive Plan of Action (JCPOA), a nuclear agreement between Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany).

Iran sits on the world’s fourth-largest oil and second-largest gas reserves, and is among the world’s top 10 oil and top five natural gas producers.

(Source: Tasnim, under Creative Commons licence)

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