Iranian oil could be processed at Romanian refinery

Iran wants to increase its oil production by 500,000 barrels a day after sanctions against it have been lifted in January. About one million barrels of oil will reach the Petrotel refinery in Romania, owned by Lukoil, according to sources quoted by Reuters. The oil delivered to Romania will be loaded in a supertanker this week, on February 5, in the Iranian terminal Kharg Island. According to sources, Litasco, the commercial division of Lukoil, could become the first European buyer of Iranian oil, after the lifting of sanctions. editor@romania-insider.com