Shell Resumes Buying Iranian Crude

News ID: 1100701 Service: Economy
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TEHRAN (Tasnim) – Royal Dutch Shell will import 130,000 tons Iranian crude oil in July, becoming the second major oil firm after Total to restart trade with Tehran after a lasting nuclear deal between Iran and world powers, a report said.

According to shipping data, Shell fixed Suezmax tanker Delta Hellas to bring 130,000 tons of Iranian crude from Kharg Island on July 8 to continental Europe, Reuters reported.

Trading sources said the cargo would unload in Rotterdam.

Shell repaid its outstanding debt to Iran from pre-sanction times earlier this year.

Besides Total, European purchases of Iranian crude have gone to refineries in Spain, Greece and Italy since the anti-Tehran sanctions were lifted in January this year.

Iran's crude exports are now close to pre-sanctions levels of around 2.5 million barrels per day.

Tehran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) on July 14, 2015 finalized the nuclear deal, known as the Joint Comprehensive Plan of Action (JCPOA) and started implementing it on January 16.

The deal terminated all nuclear-related sanctions against Tehran after coming into force.

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