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Reuters: Shell, India main buyers of 12 mln barrels Iran oil

August 2, 2006

TEHRAN (Reuters) – Iran has sold 12 million barrels of crude oil it had been storing at sea because of a lack of buyers, with Royal Dutch Shell and India taking most of the oil, an oil official told an Iranian newspaper on Wednesday.

Iran sold the 12 million barrels of heavy crude from its Soroush and Nowrouz Gulf oil field over the last two months, the official was quoted as saying.

Shell in Tehran was not immediately available to comment on the purchase and Shell in Europe declined comment.

Mahmoud Baharvand, head of import and export co-ordination at the Iranian Offshore Oil Company, said the heavy crude had needed to be stored owing to a lack of demand.

“Twelve million barrels of Soroush and Nowrouz oil that was stored on eight tankers plus Sourena (another tanker) has been supplied to the market inside and outside of Iran in the last two months,” he told the Jahan-e Eqtesad daily.

“India and Shell, that was the main contractor for the development of these fields, were the main customers,” he added.

He added there were three million more barrels on tankers. He said they were for “emergency usage”, but did not explain.
 

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