ANKARA Jan 6 National Iranian Oil Company
(NIOC) is negotiating with the Philippines over exporting four
million barrels of crude per month to the country, Iran's
English-language Press TV quoted a statement published on Friday
by the NIOC as saying.
"The National Iranian Oil Company is in talks with
Philippines' National Oil Company (PNOC) to export 4 million
barrels per month," the statement said.
PNOC is one of the 11 companies in a consortium of
international companies, known as Pergas, which has signed a
non-disclosure agreement (NDA) with the National Iranian South
Oil Company (NISOC) for carrying out studies over two oilfields
in Iran, Press TV said.
"Based on the deal, the consortium will have 6 months to
hand over the result of its studies on the fields to the NISOC.
Pergas may submit its proposal for development of the fields
sooner if it is ready," it said.
Iran, a member of the Organization of the Petroleum
Exporting Countries (OPEC), won an exemption from the group's
production cuts agreed on Nov. 30 and may raise output slightly.
Iran, OPEC's third-largest oil producer, exports more than
500,000 barrels per day of refined products, mainly fuel oil,
petroleum gas and naphtha to Asian markets, according to OPEC.
Sanctions were lifted in January 2016, under a deal reached
between Iran and six major powers in 2015 aimed at curbing the
country's nuclear programme.
(Writing by Parisa Hafezi; Editing by Mark Potter)