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The first tankers with Iranian oil go to Europe

On 15 February, after a three year break caused by the sanctions, resume the delivery to the EU of Iranian energy resources. Three tankers will move away from the oil terminal, located on Kharg island, and will head for the Strait of Hormuz.

One of them chartered by the French company Total SA and has a capacity of 2,000,000 barrels of oil. The other two tankers, one of which is leased by the Spanish company Sepsa and the second Litasco, Russian-owned LUKOIL hold a million barrels.

For deliveries resumed, not enough lifting of sanctions. It was necessary to insure vessels and cargo. The oil began to flow to Europe only after obtaining the consent of the American regulator — Steamship Owners Mutual Protection and Indemnity Association.
On the eve of the introduction of sanctions, daily oil production in Iran amounted to 3,000,000 barrels. In 2012-2015 she dropped to 1,000,000 barrels. In mid-January 2016 Iranian representatives said that in the coming months this figure will be doubled.

As expected, access to the market for Iranian energy supplies will entail new lower prices. The production cost of a barrel of Iranian oil is only nine dollars.

The first tankers with Iranian oil go to Europe 15.02.2016

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