Iran, Switzerland reach new oil deal

Iran, Switzerland reach new oil deal

Iran, Switzerland reach new oil deal


In time with the visit of Swiss President Johann Schneider-Amman to Tehran, NIOC has made a more comprehensive deal with a number of the European country’s oil companies like Glencore, Vitol and Trafigura on exchange of crude oil or gas oil with petrol.
Iran has imported more than eight million liters of petrol since the beginning of the current Iranian calendar year (Began March 21, 2015) indicating an unprecedented growth over the pas≥t seven years.
The officials at the National Iranian Oil Refining and Distribution Company (NIORDC) have also confirmed the import of 8 to 8.5 million liters of petrol in the current year commenting that all imported petrol complies with Euro-4 standard.
On the other hand, with the removal of sanctions and resumption of Iran’s oil trade with European companies like Russia’s Lukoil and France’s Vito, recently the Vitol of Switzerland, as the world’s largest independent oil trade company, has restarted oil dealings with Iran buying several shipments of Iranian crude.

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