Shell Resumes Crude Oil Purchases From Iran

Shell Resumes Crude Oil Purchases From Iran

Royal Dutch Shell became the second major oil firm after Total to restart trade with Tehran after the lifting of sanctions as it announced that it has resumed purchases of Iranian crude, Iran Daily wrote.

Shell fixed Suezmax tanker Delta Hellas will bring 130,000 tons of Iranian crude from Kharg Island on July 8th to continental Europe and, as trading sources said, the cargo would unload in Rotterdam. In addition, Shell repaid its outstanding debt to Iran from pre-sanction times earlier this year, Reuters reported.

Besides Total, European purchases of Iranian crude have gone to refineries in Spain, Greece and Italy since the sanctions were lifted in January. Iran has been trying to claw back its market share, and regaining a major buyer such as Shell will further aid its cause.

The Islamic Republic has previously resisted OPEC’s members oil freeze plan and expressed determination to boost oil output, sparking a fierce competition among top oil producers.


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