IRAN

NIOC Proposes New Contracts for Japanese 

In an effort to boost oil exports from the low level recorded in the first half of April (MEES, 15 April), the National Iranian Oil Company (NIOC) has proposed a new "frame" contract to its Japanese customers, according to reports from Tokyo. It is understood that as currently envisaged such a contract would define the volumes and period involved but leave prices and lifting schedules to be determined periodically by the parties...