IRAN LAUNCHES OIL SALES DRIVE ON NETBACK PRICE BASIS
MEES understands that Iran's NIOC has launched a major drive to line up 1986 term contracts for crude oil sales to westward destinations with prices based on netbacks from spot product realizations. So far, the volume of these projected crude oil deals for westbound shipments in 1986, either already concluded or still under negotiation, adds up to over 700,000 b/d.
According to MEES sources, NIOC has already lined up deals...
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