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

NIOC’s Executive Director for International Affairs, Seyed Mohsen Ghamsar, said Iran has so far deployed one cargo of 100,000 barrels of crude oil to the Italian firm within a short-term contract. He added: “in addition to Eni, an agreement has been also sealed with Italy’s Saras SpA for oil sales in 2016. The possibility exists to ship 30,000b/d to 60,000b/d of crude oil to Saras SpA,” according to Mehr News Agency.

In related exports to Sri Lanka and South Africa, Ghamsari stated that Iran perceived no limitation on oil sales to the two countries. He added: “Share of South African refineries are held by European and American oil giants,” with necessary negotiations had been held with refinery stakeholders in South Africa estimating that crude exports to the African state will soon become operational.

In late 2014, early 2015, South Africa announced plans to purchase oil from Iran saying “majority of South African refineries are managed by foreign companies and we could encourage them to resume trade with Tehran following the removal of oil sanctions.” Moreover, Sri Lanka, also, marks a traditional customer of Iranian crude as 100% of the oil demand in its only oil refinery, Ceylon Petroleum Corporation, was supplied by Iran before the imposition of international sanctions.