Iran Starts Selling Oil to Italy's Eni

Source: Reuters 12/19/2016, Location: Asia

National Iranian Oil Company (NIOC) has signed a short-term contract with Eni to sell crude, an Iranian official said on Monday, as it seeks to revive the agreement it had with the Italian oil major prior to sanctions on Tehran.

"The National Iranian Oil Company has sold one cargo of crude oil to this Italian company," Mohsen Ghamsari, director for international affairs at the NIOC was quoted as saying by Mehr news agency, adding that the negotiations were underway to sign a long term deal.

"If the deal is signed we are ready to sell 100,000 barrels of crude oil to Eni," Ghamsari said.

He added a contract has also been signed with Italy's Saras to sell crude oil.

Eni was one of the main buyers of Iranian oil prior to the sanctions, which were lifted in January.

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