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Hellenic to receive Iranian crude cargo

14 Apr 2016 17:29 (+01:00 GMT)
Hellenic to receive Iranian crude cargo

London, 14 April (Argus) — Greece's Hellenic Petroleum will receive on 15 April its first cargo of Iranian crude since the January easing of US and EU sanctions on Iran.

The very large crude carrier (VLCC) Achilleas,which loaded 1mn bl of Iranian crude at Kharg Island around 29 March, will arrive at Greece's Pachi terminal on 15 April. Pachi is connected to Hellenic's 140,000 b/d Aspropyrgos refinery. The Achilleas was chartered by Total, and loaded 1mn bl each of Iranian and Kuwaiti crude. The Kuwaiti crude was discharged into Egypt's Sumed pipeline for Sidi Kerir storage, according to traders and vessel tracking data, and the partially-laden Achilleas will subsequently discharge its Iranian cargo in Greece.

Separately, Hellenic will lift its first post-sanctions Iranian crude cargo from Kharg Island later in April. Hellenic had fixed the Suezmax tanker New Trust to load at Kharg Island on 18 April, bound for Greece.

Hellenic and Iran's state-run NIOC reached agreement in January on a resumption of crude purchases, following the easing of sanctions.

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