NITC resumes oil delivery to six Asian nations

2014-01-27

The National Iranian Tanker Company (NITC) is poised to carry crude oil to Asian buyers in its own vessels as sanctions ease following the implementation of Iran’s nuclear deal with world powers, the NITC chief says.

“The obstacles to NITC’s services in carrying Iran crude oil to China, India, Turkey, Taiwan, Japan and South Korea according to the [determined export] ceiling have been removed based on Iran’s agreement with the P5+1,” Ali Akbar Safaei said on Sunday.

On January 20, the EU Council suspended part of its sanctions against Iran according to the Geneva nuclear deal between Tehran and the Sextet of world powers – the United States, France, Britain, Russia, China and Germany - which was signed last November.

The decision was adopted in the course of the regular monthly meeting of EU Foreign Ministers in Brussels after the International Atomic Energy Agency (IAEA) confirmed earlier in the day that Iran had halted 20-percent enrichment of uranium under the Geneva agreement.

“Based on this [agreement], from now own, there will be no obstacles to insurance coverage, banking and other services related to international navigation for this company (NITC) with regards to crude oil delivery to the six destination countries (China, India, Turkey, Taiwan, Japan and South Korea) according to [the determined export] ceiling,” said Safaei.

The official added that NITC expects a “quick return” to the international oil market beyond the six Asian states.

Iran crude oil exports have increased in January for the third consecutive month as sanctions against the Islamic Republic are gradually relieved following the nuclear deal.

In its monthly report released on January 21, the International Energy Agency (IEA) said Iran’s December 2013 oil exports rose by 50,000 bpd to 1.15 million bpd.

Source from : PressTV

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