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Motor Oil Hellas

Motor Oil Hellas

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"Two European refiners are set to receive their first oil cargoes from Iran since international sanctions were lifted in January against the country, which is ramping up crude exports in a battle to take back market share... Italy's IPLOM booked a 1 million barrel cargo of Iranian crude that is sailing towards the country aboard the Poetic, industry sources told Reuters. It will be the first post-sanctions cargo to arrive in Italy. Oil trading and shipping sources said Greek refiner Motor Oil Hellas would also receive its first post-sanctions delivery of Iranian crude aboard the Kriti Breeze, which loaded at Kharg Island on April 20... France's Total, Spain's Cepsa and Greece's Hellenic Petroleum have booked Iranian crude for their European refineries this year. Others, including Italy's Saras and ENI, have expressed interest in buying. But exports have been much slower than Iran targeted due to struggles with shipping and insurance." (Reuters, “Iran snags more European oil buyers in slog for market share,” 4/29/2016)


"Iran has blocked oil sales to two Greek companies, Hellenic Petroleum and Motor Oil Hellas after they failed to make payment, Iranian state television reported on Thursday. The English-language television network, Press TV, reported that Greece's top refiner Hellenic Petroleum and Motor Oil Hellas were barred from purchasing Iranian crude after they defaulted on their purchases." (Reuters, "Iran cuts oil to Greek firms over payment problems-Press TV," 4/5/2012)