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Iran Holds End Of Year Fire Sale For Crude Oil

By Julianne Geiger – Dec 18, 2019, 4:00 PM CST

f you’re looking for cheap crude oil and you are not worried about going against US sanctions, have we got a deal for you: Iran’s state-run oil company, the National Iranian Oil Company (NIOC) has plans to offer crude oil and gas condensates for a substantial discounts, according to PressTV.

NIOC will offer condensates at $6 per barrel less than the free-on-board price on the MCE market in the United Arab Emirates. NIOC will sell light crude oil for $7 less than Brent on an FOB basis, and heavy crude for $8.50 below Brent.

The new terms will go into effect in the next couple of days, Amir Hossein Tebyanian, a NIOC representative said.

But the price isn’t the only concession Iran is making to sell its oil amid US sanctions. It will also remove some qualification requirements for interested buyers, and will lower the amount buyers must pay upfront. NIOC will also allow buyers to take longer to pay for the oil cargoes.

منبع انگلیسی:

https://oilprice.com/Energy/Crude-Oil/Iran-Holds-End-Of-Year-Fire-Sale-For-Crude-Oil.html

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