BUDAPEST: An official with MOL Group, a Hungarian multinational oil and gas company headquartered in Budapest, confirmed purchase of 140,000 tons of Iranian heavy crude oil. Judit Nemeth said that since 2014, the company has been actively looking for alternative crude grades with seaborne delivery as part of its optimization measures, Vestnik Kavkaza website reported on Friday.
According to traders and shipping data, MOL has commissioned a cargo of 140,000 tons of Iranian heavy crude oil for October 23. The cargo will be delivered from Iran’s southern Kharg Island terminal to Croatian port of Omisalj. “Since the sanctions against Iran are lifted, Iranian crude has become part of these alternative crude grades MOL is actively considering for using in its refineries,” she added.
There has been growing enthusiasm for ties and cooperation with Iran since a lasting nuclear deal between Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) took effect on January 16.
The deal, also known as the Joint Comprehensive Plan of Action (JCPOA), terminated all nuclear-related sanctions on Iran and prepared the ground for a much-anticipated economic boom.
