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Iran private sector begins crude oil exports
- Iran: Monday, September 17 - 2012 at 12:23
Hassan Khosrojerdi, head of Iran's oil products exporters' union has said a local private consortium has signed two agreements with foreign buyers to sell about four million barrels of Iranian crude, Fars news has reported. The deals follow an announcement last month by the head of Iran's Customs Office that the country's private sector can start exporting Iranian crude supplies. "This way, the private sector can sell oil with lower advance payments and at prices lower than the oil ministry, and its revenues will be returned to the country in cash or in the form of imports of goods," said Mehdi Qazanfari, Iran's minister of industry, mining and trade.
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