NIOC planning to use private sector capacities to boost oil sales

October 17, 2021
oil and gas

TEHRAN – Managing Director of National Iranian Oil Company (NIOC) has said his company is going to benefit from the potentials of the country’s private sector to maximize oil and gas condensate sales in the future, Shana reported.

Referring to the NIOC plans in the oil sales sector, Mohsen Khojasteh Mehr said: 'Since the maximum sale of crude oil and gas condensate is one of the priorities of the Oil Ministry, we will use all available mechanisms and tools such as barter trading, investment, and other sales methods [to boost oil sales].'

“Hopefully we can achieve the maximum amount of sales in accordance with the budget plan,” the official noted.

He further mentioned the NIOC programs for selling crude oil through the stock exchange and to diversify sale methods with the participation of the private sector, saying: 'We use all legal capacities to sell oil to both foreign and domestic qualified buyers.'

“Oil sales should not be done only using traditional methods; rather, it must be done professionally and legally, using all the capacities of the private sector,” he stressed.

tehrantimes



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