07:37 GMT +328 October 2016
    An oil tanker is seen off the port of Bandar Abbas, southern Iran (File)

    Iranian Tankers Set Sail for Europe With Four Million Barrels of Oil

    © AFP 2016/ ATTA KENARE
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    Iran's state oil company announced that tankers from Iran will begin delivering the crude oil to French, Spanish and Russian oil companies within the next 24 hours.

    Iran will begin delivery of four million barrels of oil to Europe within the next 24 hours, Roknoddin Javadi, the managing director of National Iranian Oil Company (NIOC) announced on Saturday.

    "Two million barrels of the cargo has been purchased by France's Total and the rest has been purchased by two companies from Russia and Spain," Javadi told Iran's Shana energy news network.

    The barrels have already been loaded onto tankers headed for refineries in Europe; the Russian company is going to process the oil in its refinery in Romania, Javadi said.

    On Thursday Iran released its competitive oil prices to European buyers for the first time since the EU and US lifted financial and economic sanctions that were associated with Iran's nuclear program, and undercut the Saudis by more than $1 a barrel.

    Notices from both NIOC and Saudi Aramco show that one of Iran's main export grades, Iran Heavy, will cost $1.25 a barrel less than Saudi Arabia’s most similar crude for March deliveries.

    On January 18 Roknoddin Javadi said Iran's Oil Ministry had been ordered to increase the country's daily output by 500,000 barrels following the lifting of sanctions, and Iran is aiming to raise its crude oil exports by a million barrels a day within six months of their removal.


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    • karlof1
      Too Funny! The tankers pictured are riding high, the red paint on hull totally exposed because they're empty. It's probably a stock, file photo, but it would be nice if the photo matched the story's content.
    • Mitach2002
      So much for the price of crude jumping on the rigged American markets. The price actually went down in reality. Lol
    • cast235
      When Soviets decided to allow west IN, they had NO idea what they were doing. Today, Russia still struggling to understand.

      Russia BELIEVES is Washington. Erroneously. It has way more to do with E.U , U.K.
      What it means?

      The world is a global market. And the competition so tough. They are killings daily. Proxy wars. And what not because every zone you lose, could mean billions.
      This caused more wars, murders, gangs that all wars thru history combined since AMERICA was discovered for business.
      Russia falsely believed in all the E.U, U.K U.S BULL HORN about FAIR MARKET COMPETITION.
      Is all a lie. Syria is JUST one of the culprits. West wants it. To make cash. Ironically, Lavrov THINKS there will be any resolutions.
      Can't Russia see what went on with all resolutions and deals since Nikita? Yes back then, he was convinced to give FREEDOM of speech and protest to a university. He did.
      Later recall it was a BIG MISTAKE.
      West changed and rephrased the same BULL HORN and named it, THE WILL OF THE PEOPLE>.
      But LOOK at Russia's map now. And E.U. And NATO.
      Continue negotiations. Watch how easily they will be all broken. And megaphones and propaganda used on anything Russia does. And will be inside Syria.

      Iran is gaining a market. And it may cost a war. Or regime change inside Iran. Iran believe is invisible. But that spiritual believe could turn into tears overnight.
      And Russia takes FOREVER TALKING.
      Just go invite them into CSTO and SCO and even EEU.
    • goldcamshaft
      Congratulations to Iran.
      Keep the price competitive. The west will suffer but will not go under very much.
      Saudi Arabia will crack up. They are on the verge of screaming uncle especially if they are thinking of going into Syria. They will need money to pay for the foreign fighters.
      Venezuela is now controlled by america. Let them solve the problem for Venezuela
      Russia is suffering a little, but they have a diverse economy and will survive with a high grade. Low oil prices and sanctions have made Russia more viable, in just the same way as sanctions made Iran a powerhouse.
      Nigeria has to find some of the missing money in order to survive
      and the beat goes on.
    • Beady-eyed Insomniac
      Obviously not looking at the four million barrels, but can hear the Euros tickling onto the Persian rug. Will be interesting to see if this will have any effect on the sales of Russian oil into Europe. Iran must consider how grand it would be to have the 52in pipeline across Syria, and into Europe.
    • A = π r 2in reply tokarlof1(Show commentHide comment)
      karlof1, i bet the guy who let them leave the terminal on Kharg Island without being loaded is in deep doo doo
    • vendor
      I would have some additional protection around the tankers as these may accidentally sink.
    • michaelin reply tokarlof1(Show commentHide comment)
      karlof1, agreed, although sometimes stories happen without the media having people on site as it were. Hence stock images. :( It would be good if, since Iran is now entering the world's stage, that several journalist and photographers could be sent there to make reports of gems like this. :)
    • michaelin reply tovendor(Show commentHide comment)
      vendor, maybe they are being monitored from above? Although that wouldn't help with subs though....
    • karlof1in reply tomichael(Show commentHide comment)
      michael, Thanks for your reply! 4 Million bbls equals 2 VLCCs. I blame the story's editor for allowing the wrong photos since getting proper photos wouldn't have taken more than a few minutes at a keyboard.
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