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Eni's Oil Payments to Iran Up in 2010

Service : Economy
TEHRAN, April 10 (ICANA) – Italy's biggest oil and natural gas company Eni SpA says it paid $888 million to the National Iranian Oil Company for crude last year.
Sunday, April 10, 2011 11:23:05 AM
Eni's Oil Payments to Iran Up in 2010

The Italian oil giant also announced that it purchased a further $1.1 billion worth of Iranian oil from other parties in the previous year, The Wall Street Journal reported Saturday.

Eni's refining and marketing division purchased 1.6 million tons of oil from Iran in 2010, almost twice as much as the corresponding figure in 2009, which stood at 980,000 tons and amounting to a total of $419 million.

The company said it also bought 2.09 million tons of Iranian crude worth $1.1 billion from international traders and oil companies, indicating a considerable rise, compared with 278,000 tons worth $147 million in 2009.

Earlier in November, Eni's Chief Executive Paolo Scaroni said it would continue to receive Iranian crude for at least another three years despite tightened US-led sanctions by Western countries.

Iran is one of the world's major oil exporters and its production level is equivalent to about 4.2 percent of the daily global oil demand.

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