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NIOC not in talks with Swiss companies for crude advance sale

Director of the International Affairs Department at National Iranian Oil Company (NIOC) Mohsen Qamsari says the NIOC has not had any talks with Swiss companies for advance sale of crude.

NIOC not in talks with Swiss companies for crude advance sale
(Saturday, October 22, 2016) 14:33
'We have reached no deal with Vitol or any other Swiss company for advance sale of crude oil,' said Qamsari, adding that Iran has had no contract with Swiss Vitol company for sale of crude oil.
He added, 'We've had no direct contract with the Swiss company and the contract the NIOC International Affairs Department has signed is with the Naftiran Intertrade Company (NICO).'
Naftiran Intertrade Company Sàrl (NICO), is a Swiss-based subsidiary of the NIOC. NICO is a general contractor for the oil and gas industry. NIOC buys the vast majority of Iran's gasoline imports. NICO is a key player in Iran's energy sector.
As for axis of talks in Hungary last week, Qamsari said during the visit arrangements were made for conclusion of contract for long-term sale of Iranian oil to the country.
He said to turn the spot contract into a long-term contract will take time and that's natural.
Talks for sale of Iranian crude to Hungary started in the initial months of 2016. Hungary has now received one million barrel consignment of crude from Iran.
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