The National Iranian Oil Company (NIOC) is discreetly scouring the globe for second-hand oil tankers to replace its ageing fleet and keep crucial crude exports flowing as US sanctions start to bite, Iranian and Western sources said.
The National Iranian Oil Company has raised the official selling price differentials for all of its four crude oil grades loading in April and headed to Asia, a company source told S&P Global Platts on Wednesday.
Iran will respond firmly to any Israeli naval action against its oil sales, Iran’s defense minister said on Wednesday, in comments that came a week after Israel said its navy could act against Iranian oil “smuggling” to enforce US sanctions.
An Iranian official predicted that the US may extend a waiver for at least four of the eight countries that still import oil from Iran, stressing that Tehran should nonetheless look for unconventional methods to keep selling crude.
India wants to keep buying Iranian oil at its current level of about 300,000 barrels per day (bpd), as it negotiates with Washington about extending a waiver of US sanctions past early May, two sources in India with knowledge of the matter said.
Japanese refiner Cosmo Oil will load around 900,000 barrels of Iranian Heavy crude oil in early March as local refiners are rushing to lift as much barrels from Iran during the current 180-day US sanctions waivers, sources with direct knowledge of the matter told S&P Global Platts on Tuesday.
Japanese refiners are seeking clarity on whether there will an extension to the 180-day sanctions waiver from Washington in March, as they hope to continue buying Iranian oil without any disruption, Petroleum Association of Japan's president, Takashi Tsukioka, said Friday.