Iran pays Statoil loan with gas

Norway’s Statoil receives regular amounts of butane and propane from Iran as its creditor, according to reports.

The Liquefied Petroleum Gas (LPG) deliveries are to cover the country’s National Iranian Oil Company loan from Statoil.

Press spokesperson Bård Glad Pedersen tells NA24, “that is correct, and this is in line with the original contract’s repayment options.”

Ban on oil

The EU announced, Monday, it was to impose a total ban on oil imports from Iran effective 01 July. Statoil says it will be raising the matter with Norwegian authorities.

However, Mr Glad Pedersen underlines that debt repayments relating to already-completed contracts in the form of petroleum product are exempted.

“Our assessment, therefore, is that we will still be able to receive these even after the sanctions come into force. We will continue our dialogue with Norwegian authorities to ensure this is understood,” he concludes.

Source

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