National Iranian Oil Company (NIOC) has signed an agreement with French oil major Total SA allowing the company to buy hundreds of thousands of barrels of Iranian crude oil a day.
NIOC Managing Director Roknodin Javadi and one senior manager at Total SA signed a Memorandum of Understaning (MoU) at the presence of Iranian President Hassan Rouhani and the President of France François Hollande.
The meeting was also attended by Iran’s Oil Minister Bijan Zanganeh and Total CEO Patrick Pouyanné.
“We will sign an MoU with Total today,” Zanganeh had said on Thursday.
Meanwhile, after meeting with President Rouhani in Paris on Thursday afternoon, Total Chief Executive Patrick Pouyanné had underlined the deal would allow his company to buy between 150,000 and 200,000 barrels a day from Iran.
“Previously, Total had an active participation in Iran fulfilling its commitments,” Pouyanné had noted estimating implementation of other projects with Iran though they require further negotiations.
Iranian Deputy Oil Minister Javadi had also referred to the signing of new oil deals with Total and Anglo-Dutch Royal Dutch Shell oil companies asserting, “NIOC has conducted talks with traditional buyers and customers seeing no limit on resuming oil sales or inking new contracts with foreign oil companies.”
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