NO. 18



Iran Seen Aiming for Substantial CIF Sales in European Markets

Evidence is mounting that Iran's NIOC will shortly be launching a saleseffort to place a substantial volume of crude oil in European markets on adelivered basis. The oil in question, probably as much as 900,000 b/d, wasloaded in NIOC-owned or chartered tankers at Kharg Island during January and, asfar as is known, the bulk of it - now on the water en route for Europe - has notyet been sold to...