Iran decided on the volumes of oil supplies to Europe

Iran plans daily to sell European customers on 300 thousand Barr., said Iranian oil Minister Bijan Zanganeh, the first denoting the volume of supply in this area. According to the Minister leads The Wall Street Journal citing Iranian state Agency of oil information “Shana”.

In mid-January, the Iranian authorities ordered to increase oil production by 500 thousand Barr./day. The rest volume will go to Asia.

According to Zanganeh, the French company Total, starting from February 16, to import 160 thousand Barr. According to sources the WSJ in the merchant marine, Total has chartered a tanker with a capacity of 2 million barrels, who will stand for loading next week. Earlier the French company talked about the intention to buy from 150 thousand to 200 thousand Barr. on the day, but refused to comment on the first delivery.

According to Zanganeh, Total has also expressed interest in the South Azadegan oilfield, located near the border with Iraq, and to the project to export liquefied natural gas.

Western companies began to supply of Iranian oil for the first time since the lifting of sanctions, writes the WSJ. According to representatives of shipping companies, the first loading Iranian oil company Glencore. On this information, it chartered tanker was loaded late Friday night 80 thousand tons in the Iranian port of Bandar e mahshahr. The ship, according to the navigation of The website, went in the direction of the United Arab Emirates. In Glencore declined to comment.

Many shipowners are refusing to transport Iranian oil due to us sanctions that prohibit transactions in dollars with Iranian organizations, notes the WSJ. Most of the oil is paid in dollars, and many European insurers use the U.S. financial structure, or are partners of the American company, which makes it difficult for them cooperation with Iran.

The representative of a British insurance companies, including clients which is the ship owner who provided a tanker to transport Iranian oil, said the WSJ, that will not object to such deliveries, but warned that the losses in the case of an emergency are unlikely to be fully recovered.

The National Iranian oil company (NIOC) intends to abandon the use of dollars in settlements. As stated last week a company spokesman to Reuters, accounts for the delivered oil will be invoiced in euros. In the same currency Tehran intends to obtain on demand debts already committed deliveries.