Iran Delivered 1mb of Crude to OMV

Iran Delivered 1mb of Crude to OMV

Austria’s OMV, an international integrated oil and gas company, has received the first consignment of 1mb of crude oil from Iran, since 2012. The shipment included Iranian heavy and light crude in a spot delivery at the Italian port of Trieste, reported Tasnim news. The group will send the cargo to the company’s two refineries in Austria and Romania for further processing.

In May, OMV had  signed a memorandum of understanding (MoU) with the National Iranian Oil Company (NIOC) as it looked to revive its relationship in Iran. The deal covered several areas ranging from oil and gas field evaluation to crude oil and petroleum product swaps. The company is in talks with Iran about future deliveries. However, no contract has been signed yet, according to Press TV.

OMV joins several other European companies that have already resumed purchases of crude oil from Iran, including Shell, Saras, Iplom, Repsol and Hellenic Petroleum. According to the country’s tanker loading schedule, Iran’s oil exports in August reached as high as 2.11mb/d, almost double the volume when compared to the same period in 2015, and close to pre-sanctions levels.



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