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Dragon Oil delivered crude oil to Iran

On Aug 3, 2017, the "VF Tanker-20" arrived at the Iranian Caspian port of Neka and discharged around 6,000 tons of Turkmen-origin crude oil produced by the company "Dragon Oil". The discharge of that cargo took place on Aug 3-4 into the terminal, which is owned and operated by the National Iranian Oil Company (NIOC). This was the first time in a long time that Dragon Oil, 100% owned by the Emirate National Oil Company (ENOC), decided to deliver crude oil cargo to Iran independently, via its trading sister company “ENOC Singapore”. To date, Dragon Oil sold all its crude oil export volumes on tenders on an FOB Aladja- Turkmenistan basis. Due to the sanctions against Iran, from 2011, export volumes were transported towards Europe solely through the territories of Azerbaijan (either via pipeline Baku-Tbilisi-Ceyhan or via railways Baku-Batumi) and Russia (via pipeline Makhachkala-Novorossiysk).