Iran oil official: Most European firms sign 4-5 year deals with Iran

The Director of National Iranian Oil Company (NIOC) for International Affairs Mohsen Ghamsari said most European companies have concluded 4-5 year contracts to buy Iranian oil, adding Iran has extended contracts with all costumers for the end of 2012.

Ghamsari added all European companies including Shell had signed an agreement with Iran before January 23 to purchase the country’s petrol.

“Since long-term agreements are inked in one year, we face no problem to sell our crude in 2012,” he said.

Regarding Japanese refineries’ deal to buy Iranian oil, he said, “We have faced no problem since Japan’s fiscal year began late March.”

Ghamsari also rejected reports on Iran’s discount for oil customer.

Iranian Oil Minister Rostam Ghasemi had said that while Iran has cut sales to Britain and France, it continues selling crude to “other countries” in the world.

Iran imposed the oil embargoes on Britain and France in February and in April.

Iran took the pre-emptive measure before the EU oil embargo that is due to go into effect in July.

The EU imposed the ban because of Iran’s refusal to halt its peaceful nuclear program.