16 September 2015 - 11:43
  • News Code: 246973
Iran, South Africa Sign Protocol on Crude Oil Sales

TEHRAN Sept. 16 (Shana) – Iran and South Africa have signed the initial documents on crude oil sales as all countries that visited Iran for negotiations have expressed their interest to buy oil and gas condensate, said an official in the National Iranian Oil Company (NIOC).

South Africa is expected to be Iran’s first non-traditional customer of oil among major traditional buyers including Turkey, Japan, South Korea, China and Indonesia, Seyed Mohsen Qamsari, NIOC director of international affairs, said.

“Most of the countries that used to have oil purchase contracts with Iran applied for resumption of former deeds and a number of new customers are ready to sign contracts after sanctions are lifted,” he added.

He also said Iran has the potential to be one of gas condensate producers shall the sanctions are removed because new splitters in European and Asian industries use such products for their feed. 

“This can add new customers mostly in the Far East countries to our traditional inventory of condensate buyers, he added.

On settlement of European countries’ debts to Iran, Qamsari said all of them including Greece, Italy, and specially the Royal Dutch Shell are ready to pay their debts as soon as the nuclear deal between Iran and G5+1 is implemented.

The official said Iran will distribute 60 percent of its oil export to Asian markets and maintain the remaining 40 percent to European markets.

News Code 246973

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