Austria's OMV joins Iranian crude buyers club

September 18, 2016 - 9:16

Austria's OMV said on Friday it received 1 million barrels of crude oil from Iran in a spot delivery at the Italian port of Trieste which the energy group will send to its two refineries in Austria and Romania.

According to Reuters, The delivery was Iran's first to OMV since 2012, when sanctions were imposed on the country. OMV is in talks with Iran about future deliveries, although no such contract has been signed yet, a spokesman said.

Friday's delivery included Iranian heavy and light crude, he added.

OMV has been present in Iran since 2001 when it implemented operations at the Mehr exploration basin in the western part of the country, which became the first contract of the company with Iran, Trend reported.

The Austrian Company earlier signed a memorandum of understanding (MoU) with the National Iranian Oil Company (NIOC) as it looked to revive its activities in Iran. The deal covered several areas ranging from oil and gas field evaluation to crude oil and petroleum product swaps.

Mohsen Qamsari, the director for international affairs of NIOC, earlier said that Iran signed agreements for the sale of crude oil with companies from Spain (Repsol) and Greece (Hellenic Petroleum), and negotiations with other major oil companies are underway.

Crude oil exports of Iran jumped 15 percent from July to more than 2 million barrels per day (bpd) in August.

(Source:  agencies)