Oil Major BP buys first Iranian oil since sanctions eased
06 Oct 2016

Iran’s state-owned oil company sold condensate to BP Plc for the first time since sanctions were lifted in January, marking the country’s re-emergence as one of the world’s top suppliers of crude oil and natural gas liquids.

National Iranian Oil Co. will supply South Pars condensate to BP for loading between September and October, said an NIOC official, asking not to be identified because of internal policy. The shipment may be used by one of BP’s own refineries or resold to other users, the official said by phone. A London-based spokeswoman for BP declined to comment on the deal when contacted by phone.

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