Vitol to loan NIOC $1 Bn

摘要

UK-based oil trader Vitol has agreed to loan stateowned National Iranian Oil Co (NIOC) an equivalent of US $1 Bn in euros guaranteed by future exports of refined products, according to reports. The pre-finance deal is the first such major contract signed between Iran and a trading house since sanctions were lifted in early 2016. Vitol and NIOC declined to comment, Reuters reported.