News ID: 150878
Published: 0956 GMT May 06, 2016

Oil tankers docking at Iran’s Kharg terminal double

Oil tankers docking at Iran’s Kharg terminal double

A senior Iranian official says the number of foreign oil tankers docking at Iran’s southern Kharg oil terminal has doubled after the implementation of last year’s nuclear agreement between Iran and six global powers.

Iran and the five permanent members of the UN Security Council – the United States, France, Britain, China and Russia – plus Germany started implementing the Joint Comprehensive Plan of Action (JCPOA) on January 16. The two sides signed the agreement on July 14, 2015 following two and a half years of intensive talks.

Under the JCPOA, all nuclear-related sanctions imposed on Iran by the European Union, the Security Council, and the US would be lifted. Iran has, in return, put some limitations on its nuclear activities.

Managing Director of Iranian Oil Terminals Company (IOTC) Pirouz Mousavi told IRNA on Friday that Spanish, Norwegian and Romanian tankers have started loading crude oil and petroleum products at Kharg for the first time following the lifting of Iran sanctions.

Before the lifting of sanctions, only Japanese oil tankers were authorized to take delivery of oil in Iran, he added.

“However, after the removal of the bans other countries such as China and Europeans are broadly active in Iran’s terminals,” Mousavi said.

He also noted that Iran currently exports more than 500,000 barrels of gas condensate per day.

Immediately after the removal of the sanctions, Iran increased its oil output to as high as 1.4 mb/d and subsequently raised its exports.

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