Blogs and advice from Industry leading Specialists
Valuable Opinions, Comments & Gossip
Financial related News & Articles relating to Spain
Latest News, Stories
& Hot Topics
Various Tools & Widgets to help with your financial needs
Tools & Widgets to
help with finances
Polls, Surveys and Opinions featured throughout Tumbit
Featured Polls, Surveys & Stats
Discussions, Advice & Topical Chat
Discussions, Advice & Topical Chat

Spain Largest Importer of Iranian crude oil

Sat 18th Jun 2016
Spain Largest Importer of Iranian crude oil

According to customs data, Spain was the largest European importer of crude oil from Iran in April 2016.

Landing more than 3bn barrels of oil in April, more than triple compared to March, Spanish imports of Iranian crude were almost a third higher than the second biggest EU importer France, who imported 2.2bn barrels. Greece came third importing just over 1bn barrels.

Romania also increased its imports of Iranian oil from March to April, importing just over 500,000 barrels.

Until recently, Iran were slapped with heavy sanctions on crude sales by the US and EU over fears surrounding it’s nuclear energy program.

However, following a deal struck in 2015 between the all three parties, Iran has ramped up its cargoes of crude oil since April following the ending of sanctions.

Major refinery firms, Cepsa and Repsol are amongst various European organisations to buy up crude oil from the state owned Iranian oil company - NIOC.

Deals have also been struck with Shell, as the oil rich nation competes for market share in the Mediterranean region and expands its list of buyers across Europe.

Iran is believed to hold around 10% of all proved oil reserves in the world which at current production levels would last approximately 98 years.

Comment on this Story

 
Be the first to comment on this Story !!

Recommended Items

 
Use the hair extensions pretty curling styling spray to evenly spray on the hair wigs part that wants to highlight the hair extensions uk curl, then use the curling iron to start at the horizontal line behind the ear, and the human hair extensions uk single layer is rolled, and the handsome yet playful hairstyle is born.