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Lukoil trading arm denies sales to Iran

Steel News - Published on Wed, 18 Aug 2010

Reuters quoted the head of the trading arm of Lukoil as saying that his company Litasco was not selling gasoline to Iran, after traders said sales had resumed despite US and European Union sanctions.

Mr Sergey Chaplygin CEO of Litasco said that “We are not supplying to Iran. We have no existing contracts and we don\'t have any JV with Chinese or any other companies to supply gasoline. We already had a statement in April that we are not supplying any refined products and nothing has changed since then.”

Industry sources said that Lukoil\'s trading arm Litasco together with China\'s state run firm Zhuhai Zhenrong had discharged 250,000 barrel gasoline cargo at the Iranian port of Bandar Abbas recently. Traders said that the Geneva based Litasco was expected to ship a second cargo to the Iranian port later this week.

(Sourced from Reuters)

Posted By : admin on Wed, 18 Aug 2010
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