Iran Sells Condensate to BP for 1st Time since Sanctions Relief


Iran Sells Condensate to BP for 1st Time since Sanctions Relief

TEHRAN (Tasnim) – National Iranian Oil Company (NIOC) has sold natural gas condensate to BP Plc, one of the world's leading integrated oil and gas companies, for the first time after the removal of anti-Tehran sanctions, a report said.

NIOC will supply South Pars condensate to BP for loading between September and October, said an NIOC official on condition of anonymity, Bloomberg reported on Wednesday.

The shipment may be used by one of BP’s own refineries or resold to other users, the official said by phone.

A London-based spokeswoman for the British firm declined to comment on the deal when contacted by phone.

There has been growing enthusiasm for ties and cooperation with Iran since a lasting nuclear deal between Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) took effect on January 16.

The deal, also known as the Joint Comprehensive Plan of Action (JCPOA), terminated all nuclear-related sanctions on Iran, reopened the doors of foreign investment to the country’s market, and prepared the ground for a much-anticipated economic boom.

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