| An NIOC official has announced that Iran has managed to regain 80 per cent of its lost share in the European oil market. Executive Director for International Affairs at National Iranian Oil Company (NIOC) Seyyed Mohsen Ghamsari said Iran has no stored oil on water asserting “a negligible amount of gas condensate exists on water since these materials do not have constant use and shall remain on water until customers demand them.”
The official pointed to oil sales in single-piece shipment maintaining “normally, customers purchase their required oil by inking long-term agreements with providers though they supply about 20 per cent of their demand within the framework of spot contracts in order to move in line with market trends as well as to buy crude oil at lower prices.”..............................................Full Article: Source
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